New Listing
801 Literary Road
Cleveland, OH, 44113
Price$1,450,000
Beds0
Baths0
SqFtn/a
Baths0
SqFtn/a
Status:Active
Property Type:Commercial
School:Cleveland Municipal – 1809
Property Type:Commercial
School:Cleveland Municipal – 1809
Welcome to your next investment opportunity in the heart of Cleveland’s historic Tremont neighborhood! This versatile commercial property presents a unique chance to capitalize on its prime location and potential for multiple income streams. Currently configured as a single apartment and a bustling hair salon, this property offers the flexibility to be transformed into three living units, each with its own separate HVAC systems already in place. The ground floor houses the salon, equipped with six styling stations, a bathroom, and a kitchen/break area. With minimal renovation, the back of the salon could easily be converted into a standalone unit featuring a bedroom, kitchen, full bathroom, and convenient washer/dryer hookups. Ascending to the second floor, you’ll find a stylishly updated apartment showcasing a modern industrial aesthetic. The spacious layout includes a stunning kitchen, inviting living room, laundry room, and two bedrooms, complemented by two bathrooms. The crowning jewel awaits on the third floor, boasting a luxurious master bedroom with an en-suite bathroom featuring heated floors. The option to enclose the soffit and establish a distinct unit on this level further enhances the property’s allure and value. Enjoy the luxury of three balconies offering picturesque views of downtown Cleveland, providing the perfect backdrop for relaxation and entertainment. Six parking spaces are included, enhancing accessibility for tenants. Currently, the salon commands a rental income of $2,892, while the apartment generates $3,914, with both rents increasing by a steady 3% annually. Whether you’re an investor seeking multiple revenue streams or a homeowner looking to offset mortgage costs, this property presents an exceptional opportunity to capitalize on the vibrant Tremont neighborhood’s ever-growing demand for residential and commercial spaces. Don’t miss out on making this your next successful venture!
| Price | $1,450,000 | |
| Total Baths | 0 | |
| Lot Size Area | 0.045 | |
| Lot Size Area Units | Acres | |
| Acres | 0.045 | |
| Property Type | Commercial | |
| Sub type | Retail | |
| MLS Sub type | Retail | |
| Stories | 3 | |
| Year Built | 1913 | |
| Heating | ForcedAir | |
| Foundation | Basement | |
| Parking Spaces | 6 | |
| Directions | Fairfield Avenue to West 10th Street to Literary Road | |
| County | Cuyahoga | |
| Address | 801 Literary Road, Cleveland, OH 44113 | |
| Postal Code | 44113 | |
| City | Cleveland | |
| State | OH | |
| Country | United States | |
| Listing Office | Keller Williams Living | |
| Listing Office Phone | 440-318-1620 | |
| Listing Office Email | klrw839@kw.com | |
| Listing Agent | Christopher Trivisonno | |
| Listing Agent Phone | 440-318-1620 | |
| Special listing conditions | Standard | |
| District | Cleveland Municipal – 1809 | |
| Days on market | 0 | |
| MLS Status | Active | |
| Listing Last Modified | May 9, 2024 | |
| Tax ID | 004-16-071 | |
| Tax Year | 2023 | |
| Tax Annual Amount | 13965 | |
| MLS # | 5034263 | |
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