3806 Franklin Boulevard (Stone Gables) — Sale in Cleveland, OH

  • Price: $1
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cleveland, OH 44113
  • Size: 11,875 SF

Description

Generational opportunity to own architecturally award winning Stone Gables mansion + apartments in bullseye Ohio City location.Currently set up as boutique hotel with 5 rooms on west side, and 4 individual apartments on east side.Includes 10 car gated parking on site.Meticulously maintained with historic elegance and modern comforts.Original wood floors, crown moldings, fireplaces, pocket doors and more!Currently cash flowing, but massive value-add opportunity with STR potential or renovating the mansion into 3-4 apartment units and creating garden unit on lower level.

Market Context

This multifamily in Cleveland, OH is listed for sale at $1 across 11,875 SF. It has been on the market for 239 days. Compare it against other multifamily listings for sale in Cleveland, OH — view the full market.

As of Q1 2026, the Cleveland multifamily market showed average asking rents near $1900.00/unit/mo, and cap rates around 8.8%. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

What is the typical cap rate for multifamily in Cleveland?
About 8.8% as of Q1 2026, per multiple brokerage reports.

Contact

  • David Leb — Cushman and Wakefield

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