2103 St Clair Avenue NE, Cleveland, OH 44114

Property Description

OPPORTUNITY OVERVIEW Rare opportunity to acquire a character-rich, two-story brick building on Cleveland's St. Clair Avenue NE corridor — a near east side commercial and residential strip with proven short-term rental demand and active adaptive reuse momentum. The seller previously operated the building as a short-term rental generating approximately $4,000/month in gross Airbnb revenue, demonstrating real lodging demand on this corridor. One unit is currently rent-ready for immediate occupancy or STR re-activation; three units are in value-add condition, offering a buyer the opportunity to build equity through targeted finish work. With 6,002 SF across two floors plus a partial basement, this asset supports multiple exit strategies: continue as a short-term rental operation, convert to 4–6 long-term residential units, or reposition as a mixed-use ground-floor commercial / upper-floor residential property. INVESTMENT HIGHLIGHTS • Proven STR demand — seller-reported ~$4,000/month gross Airbnb income prior to vacancy • 1 rent-ready unit at closing — immediate partial income path, reduces day-one carry • 3 value-add units — finish work creates equity upside priced into ask • Multifamily conversion candidate — 6,002 SF supports 4–6 residential units • Brick construction — durable asset with character that commands a premium on the rental market • Walk Score 83 — walkable corridor with restaurants, retail, and transit within steps • Strong renter demographics — median age 29, 74.8% renter-occupied within 1 mile • No major structural issues — cosmetic and finish deferred maintenance only • Flexible use positioning — STR continuation, long-term residential, or mixed-use