4237 Rocky River Dr Immeuble residentiel 15 lots À vendre Cleveland, OH 44135

4237 Rocky River Drive, a 15-unit garden-style apartment building located in Cleveland, Ohio. This well-maintained asset offers investors a compelling value-add opportunity in a stable rental market.
The property features 15 surface parking spaces and has undergone recent capital improvements, including a new roof installed in 2022, updated common hallways, and renovations in 6 of the 15 units. Current rents remain below market, allowing for immediate upside through unit upgrades and lease renewals.
With its strong physical condition, on-site parking, and operational upside, 4237 Rocky River Drive is well-positioned for both cash flow and long-term appreciation.
Neighborhood Overview –
Situated on Cleveland's West Side, which encompasses neighborhoods such as Kamm’s Corners, Bellaire–Puritas, Jefferson, and Riverside. These areas feature a mix of residential and industrial zones, combining single-family homes with multifamily communities. The population of approximately 27,600 residents is diverse, with a demographic composition of 53% White, 21% Hispanic, 15% African American, and 4% Asian.
The local economy benefits from the nearby industrial corridor, with significant employment centers along I-480 and major rail lines. The area also enjoys excellent transportation access via I-71 and I-480, along with numerous parks and recreational amenities, making it attractive for both renters and long-term investors.