3241 E 116th Street, Cleveland, OH 44120
Local realty services provided by:Better Homes and Gardens Real Estate Central
Listed by: michael azzam
Office: re/max haven realty
MLS#:5241788
Source:OH_NORMLS
Price summary
- Price:$140,000
- Price per sq. ft.:$104.17
About this home
Excellent turnkey investment opportunity for an investor looking to add a strong, income-producing property to their portfolio! This spacious single-family home offers 5 bedrooms and 1 bathroom, providing a desirable layout with plenty of room for comfortable everyday living.
The interior has been refreshed with fresh paint and new luxury vinyl plank flooring throughout, creating a clean, modern, and low-maintenance finish. The large updated kitchen is a standout feature, offering new cabinetry, butcher block countertops, stainless steel appliances, and ample workspace and storage. The bathroom has also been thoughtfully renovated with new tile flooring, a tiled tub surround, new vanity, and updated fixtures and accessories, giving the home a fresh and contemporary feel.
From an investment standpoint, the property is positioned to provide immediate cash flow. Newly placed tenant on a 1 year lease paying $1700/m allowing cashflow from day one of ownership.
Conveniently located in Cleveland, the property is just minutes from Luke Easter Park, Ludlow Early Learning Center, Fernway Elementary School, Batuqui Brazilian Restaurant, and Select Specialty Hospital – Cleveland Fairhill, and easy access to major roads, public transportation, shopping, schools, parks, restaurants, healthcare facilities, and other everyday amenities.
The property also presents a future Section 8 opportunity, with a CMHA rent standard of approximately $2,150. Full-service property management is available, including dedicated leasing, marketing, and tenant communication departments, along with rehab and construction services for remote investors. With its spacious layout, recent updates, and a new tenant already in place, this property presents an attractive opportunity for investors seeking a turnkey rental with immediate income potential and long-term value!
No wholesalers, seller financing, or low-ball offers....
Contact an agent
Home facts
- Year built:1918
- Subdivision & Development:Johnson Farms
- Listing ID #:5241788
- Added:70 day(s) ago
- Updated:November 12, 2026 at 04:12 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:1
- Full bathrooms:1
- Rooms Total:7
- Basement:Yes
- Basement Description:Full
- Living area:1,344 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:1918
- Building area:1,344 sq. ft.
- Lot area:0.13 Acres
- Architectural Style:Colonial
- Construction Materials:Aluminium Siding, Vinyl Siding
- Levels:2 Stories, 2 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$140,000
- Price per sq. ft.:$104.17
- Tax amount:$850 (2025)
Parking
- Parking description:Driveway
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