3865 W 40th StreetCleveland, OH 44109

3865 W 40th StreetCleveland, OH 44109

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$575,000 Active
Commercial - Business MLS 5192671 New to the Market
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Listed By

Agency Name: Keller Williams Elevate
Agency Contact: AntonioB@KW.com, 440-223-0575

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Welcome to 3865 w 40th Street in Ohio's Brooklyn Centre Historic District, a six unit building with over 9,600 SF. Four out of the six units have recently been renovated, property offers 4 three bedrooms and 2 two bedrooms. Separately metered for gas and electric with new electric panels, high efficiency furnaces and hot water tanks. Additionally the renovated units have new carpet, vinyl LVP, interior/exterior paint, vinyl windows, kitchen cabinets and countertops, electric ranges, bathroom vanities, toilets, and tub surrounds. All Six units are configured with a main floor that includes the living area and kitchen, second floor with bedrooms and full bathroom, and an unfinished basement. Opportunity for a new owner to accept Voucher based Section 8 Subsidy in an effort to significantly increase the rents OR continue operating as a market rent property. Ideal stable investment with additional value add opportunity!

3865 W 40th Street | MLS# 5192671

This commercial property located at 3865 W 40th Street, Cleveland, OH 44109 is currently listed for sale with an asking price of $575,000. W 40th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on 1279summitstreet.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: Concrete
Basement: Yes
Cooling: Ceiling Fan(s)
Heating: Forced Air
Lot Size: 0.23 Acres
Stories: 2.0
Taxes: $4,025 / year
Year Built: 1900

Feature Descriptions

Parcel#: 014-02-029
Parking: On Street
Sewer: Public Sewer
Units: 6
Water: Public

Local Schools

School District: Cleveland Municipal - 1809

Demographics

Cuyahoga County Demographic Information for 3865 W 40th Street, Cleveland, OH 44109
Fips
Fips Code 39035
Population
2020 to 2023 Change down 2.5%
2010 Count 1,280,122
2020 Count 1,264,817
2023 Estimate (V2023) 1,233,088
2020 Estimate (V2023) 1,264,775
Age Distribution (Years Old)
0 to 4 5.3%
5 to 17 20.3%
18 to 64 54.8%
65 and Older 19.6%
Gender
Male 48.1%
Female 51.9%
Place of Birth
Foreign 7.6%
US 92.4%
Education
High School Graduate, Age 25+ 90.9%
Bachelor's Degree or Higher, Age 25+ 35.2%
Computer and Internet use
Households with a computer 92.0%
Households with a broadband Internet subscription 85.7%
Language
English is Second Language, Age 5+ 12.3%
English is First Language, Age 5+ 87.7%
Veterans
Veterans 60,427
Income
Per Capita Income $39,807
Median Household Income $60,074
People in Poverty 16.6%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 615,116
Households 552,421
Average Household Size 2.23
Owner-Occupied 58.4%
Multi-Family 34.9%
Owner-Occupied Median Value $168,700
Median selected monthly owner costs -with a mortgage $1,472
Median selected monthly owner costs -without a mortgage $630
Median gross rent $952
Building Permits
New Private Housing Issued 2023 1,028
Years at Residence
1 Year or More 86.1%
Less Than 1 Year 13.9%
Business and Employment
Private non-farm Establishments 31,738
Private non-farm Employment 631,443
Private non-farm Employment Growth up 0.7%
Nonemployer Establishments 105,877
Number of Firms 114,192
Business Production
Value of Shipments $23,225,392,000
Wholesale Trade $24,854,217,000
Retail Trade $16,920,714,000
Retail Sales Per Capita $11,914
Accommodation and Food Services $3,332,698,000
Land
Land Area 457.19 sq. miles
Population Per Square Mile 2,800

Source: US Census Bureau

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