287 E 156th St — Sale in Cleveland, OH

  • Price: $399K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cleveland, OH 44110
  • Size: 65 SF

Investment Figures

Cap rate
6.17%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 287 E 156th Street, 9 units, in Cleveland, Ohio. Investment Highlights: • Owned and Managed by Out-of-State Investors • Located in the Waterloo Arts District, One of Cleveland's Most Creative and Revitalizing Neighborhoods, Known for its Galleries and Live Music Venues • Significant Rent Growth Potential with In-Place Rents $100 Plus Below Comparable Properties • 66 Percent of Units Updated with LVP Flooring, New Kitchen Cabinetry, and New Kitchen Countertops, New Bathroom Vanities, New Tub Surrounds, and New Hot Water Tanks • All Units Have Individual Furnaces, Hot Water Tanks, and Through-Wall Air Conditioning Units

Market Context

This multifamily in Cleveland, OH is listed for sale at $399,000 across 65 SF. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 137 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.

Its 6.2% asking cap rate is below the Cleveland multifamily market average of about 8.8%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

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

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