Turnkey as-is investment opportunity with strong value-add upside and cash-cow potential at 9223 Adams Avenue in Cleveland. This duplex features two 2-bedroom, 1-bath units and is being delivered vacant and rent ready, allowing the next owner to immediately place tenants and begin generating income. The property is underwritten at $2,320 per month in combined HUD Fair Market Rent, supporting an estimated 10.09% cap rate as currently configured. What makes Adams especially attractive is the combination of turnkey condition today and significant upside tomorrow. The property is Lead Safe Certified and can be operated as-is, while the existing third-floor layout creates a compelling value-add opportunity. The building was previously used as a triplex, and the upper level still includes two additional bedrooms, a full bathroom, kitchen plumbing and electrical, and a great room. This creates a potential path to convert the upper unit into a 5-bedroom unit, increasing achievable HUD rent, or potentially restore an additional income-producing unit subject to current City of Cleveland zoning and approvals. Located in Cleveland's 44108 Glenville area, the property is minutes from University Circle, Case Western Reserve University, Cleveland Clinic, and University Hospitals, providing convenient access to some of Northeast Ohio's largest employment centers. 9223 Adams Avenue is also available as part of a four-duplex, eight-unit Cleveland investment portfolio offered at $702,000. The portfolio includes 15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave, with more than $120,000 in capital improvements completed across the portfolio. For investors seeking a turnkey cash-flowing asset with strong value-add potential, Adams offers the ability to operate the property as-is while retaining multiple opportunities to increase future rental income and overall property value.
Details
MLS #
5246472
Listing Type
For Sale
Style
Duplex
Sub-Type
Resale
Status
Active
Year
1926
Days On Site
26
Listing Provided By
Home Equity Realty Group | Kim Lewis
Features
Bed(s)
7
Bath(s)
3 Total
Building(s)
1
Acreage
0.09
Parking
Garage Yes / No
No
Parking Features
Driveway
Taxes
Tax Annual Amount
939
Area Information
State
OH
County
Cuyahoga
City
Cleveland
Zip Code
44108
Community Name
Superior Park 04
Listing VS Median (in Superior Park 04)
Price: $168,750
low | high
Med: $88,500
97.555555555556% of Average
On site: 26
low | high
Med: 87
29.885057471264% of Average
Sourced by Back At You
Market Activity 44108
Date
Sales
Avg $ Per SqFt
Min Sale Price
Max Sale Price
Med Sale Price
Date: Sep 2026
Sales: 1
Avg $ Per SqFt: $19.75
Min Sale Price: $79,000
Max Sale Price: $79,000
Med Sale Price: $79,000
Date: Aug 2026
Sales: 7
Avg $ Per SqFt: $70.31
Min Sale Price: $75,000
Max Sale Price: $460,000
Med Sale Price: $205,000
Date: Jul 2026
Sales: 11
Avg $ Per SqFt: $65.42
Min Sale Price: $25,000
Max Sale Price: $349,000
Med Sale Price: $110,000
Date: Jun 2026
Sales: 12
Avg $ Per SqFt: $37.77
Min Sale Price: $30,000
Max Sale Price: $310,000
Med Sale Price: $91,275
Date: May 2026
Sales: 20
Avg $ Per SqFt: $70.54
Min Sale Price: $37,000
Max Sale Price: $350,000
Med Sale Price: $145,000
Date: Apr 2026
Sales: 20
Avg $ Per SqFt: $63.64
Min Sale Price: $27,000
Max Sale Price: $675,000
Med Sale Price: $101,950
Date: Mar 2026
Sales: 16
Avg $ Per SqFt: $47.79
Min Sale Price: $23,000
Max Sale Price: $565,000
Med Sale Price: $112,000
Date: Feb 2026
Sales: 15
Avg $ Per SqFt: $56.69
Min Sale Price: $40,000
Max Sale Price: $160,000
Med Sale Price: $107,500
Date: Jan 2026
Sales: 16
Avg $ Per SqFt: $55.3
Min Sale Price: $17,500
Max Sale Price: $210,000
Med Sale Price: $106,000
Date: Dec 2025
Sales: 15
Avg $ Per SqFt: $43.31
Min Sale Price: $23,000
Max Sale Price: $443,000
Med Sale Price: $89,880
Date: Nov 2025
Sales: 16
Avg $ Per SqFt: $51.67
Min Sale Price: $1,475
Max Sale Price: $144,000
Med Sale Price: $94,850
Date: Oct 2025
Sales: 23
Avg $ Per SqFt: $56.9
Min Sale Price: $825
Max Sale Price: $379,900
Med Sale Price: $88,000
Sourced by Back At You
Sep 2026
Sales:
1
Avg $ Per SqFt:
$19.75
Min Sale Price:
$79,000
Max Sale Price:
$79,000
Med Sale Price:
$79,000
Aug 2026
Sales:
7
Avg $ Per SqFt:
$70.31
Min Sale Price:
$75,000
Max Sale Price:
$460,000
Med Sale Price:
$205,000
Jul 2026
Sales:
11
Avg $ Per SqFt:
$65.42
Min Sale Price:
$25,000
Max Sale Price:
$349,000
Med Sale Price:
$110,000
Jun 2026
Sales:
12
Avg $ Per SqFt:
$37.77
Min Sale Price:
$30,000
Max Sale Price:
$310,000
Med Sale Price:
$91,275
May 2026
Sales:
20
Avg $ Per SqFt:
$70.54
Min Sale Price:
$37,000
Max Sale Price:
$350,000
Med Sale Price:
$145,000
Apr 2026
Sales:
20
Avg $ Per SqFt:
$63.64
Min Sale Price:
$27,000
Max Sale Price:
$675,000
Med Sale Price:
$101,950
Mar 2026
Sales:
16
Avg $ Per SqFt:
$47.79
Min Sale Price:
$23,000
Max Sale Price:
$565,000
Med Sale Price:
$112,000
Feb 2026
Sales:
15
Avg $ Per SqFt:
$56.69
Min Sale Price:
$40,000
Max Sale Price:
$160,000
Med Sale Price:
$107,500
Jan 2026
Sales:
16
Avg $ Per SqFt:
$55.3
Min Sale Price:
$17,500
Max Sale Price:
$210,000
Med Sale Price:
$106,000
Dec 2025
Sales:
15
Avg $ Per SqFt:
$43.31
Min Sale Price:
$23,000
Max Sale Price:
$443,000
Med Sale Price:
$89,880
Nov 2025
Sales:
16
Avg $ Per SqFt:
$51.67
Min Sale Price:
$1,475
Max Sale Price:
$144,000
Med Sale Price:
$94,850
Oct 2025
Sales:
23
Avg $ Per SqFt:
$56.9
Min Sale Price:
$825
Max Sale Price:
$379,900
Med Sale Price:
$88,000
MLS Number: 5246472
Kim Lewis – (330) 952-2244 – kim.lewis@heqrealty.com
Home Equity Realty Group – (330) 952-2244 – office@heqrealty.com
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The information is being provided by MLS Now Independence OH. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 MLS Now Independence OH. All Rights Reserved.
MLS Number: 5246472
Kim Lewis – (330) 952-2244 – kim.lewis@heqrealty.com
Home Equity Realty Group – (330) 952-2244 – office@heqrealty.com
Price Reduced Listing
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