Good morning, Cleveland Real Estate Investors! Downtown isn’t “declining.” It’s “resetting.” That’s the official word. The real question: resetting to what? 👀📊

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📬 In today’s edition:

• 🏘️ Filling the Gaps: East Side Neighborhoods Get a Boost

• 📊 Inside Cleveland’s Downtown Market Reset for 2026

• 🏢 Fully Occupied Quad Near Gordon Square Sells for $591K

📰 Cleveland Market Minute

Parkside Homes give East Side boost

As older Cleveland homes continue to age beyond repair, reactivating a vacant or abandoned property can feel like taking one step forward while the neighborhood takes two steps back.

In Glenville, Hough, and Buckeye-Shaker, CHN Housing Partners is reversing that momentum — filling empty lots by the dozen.

🔗 Read More

Downtown ‘reset’ a challenge, opportunity

Multiple forces are likely to affect Cleveland’s central business district in 2026, according to the nonprofit development corporation Downtown Cleveland Inc.

It’s a setting that has housed Cleveland’s fastest-growing residential neighborhood this century while also suffering the loss of office jobs to remote working, intensified by the 2020 pandemic.

🔗 Read More

Variety Theater has a buyer

The theater, located at 11815 Lorain Ave. in Cleveland’s Jefferson neighborhood, is actually part of a larger, 35,000-square-foot structure.

Terms of the deal were not revealed as the sale transfer has not yet closed. And a source who spoke on the condition of anonymity said the purchase agreement has not even been finalized yet.

🔗 Read More

🏠 Just Sold Spotlight – Detroit-Shoreway Quadruplex Near Gordon Square

📍 5801 Franklin Blvd, Cleveland, OH 44102

• 💰 Sold Price: $591,000

• 📏 Size: 5,000 sq. ft.

• 📅 Year Built: 1910

• 🛏 9 Beds | 🛁 4 Full Baths

• 🏢 Property Type: Quadruplex (Multi-Family)

• 🚗 Parking: 4-car surface lot (rear)

• 🏘️ Subdivision: Sommers & Wintertons

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

This fully occupied Detroit-Shoreway quad is a textbook value-add multifamily asset just two blocks from Gordon Square Arts District. The property consists of four attached brick townhome-style units with identical layouts—three 2-bedroom units and one 3-bedroom unit—each featuring hardwood floors, original oak woodwork, decorative fireplaces, and built-ins that renters actively seek in this neighborhood.

Current gross rents total $5,425/month with clear upside through rent increases as leases turn. Tenants pay their own gas and electric, reducing owner expense exposure. Each unit includes a full private basement with laundry and storage, a strong retention feature rarely found in comparable inventory. With proximity to dining, theaters, and transit, this asset is positioned for long-term appreciation and stable cash flow.

🏡 Neighborhood Insight

• 📍 Community: Detroit-Shoreway / Gordon Square

• 🎭 Nearby Landmarks: Gordon Square Arts District, Edgewater Park, West 65th dining corridor, local shops, cafes, and theaters

• 🚶 Accessibility: Minutes to I-90, Downtown Cleveland, Ohio City, Lake Erie, and public transit; highly walkable urban neighborhood

📈 Recent Sales Nearby:

• 5817 Detroit Ave – $600,000 | 4 Bed | 4 Bath | 2.6k sq. ft.

• 1852–1854 W 45th St – $592,783 | 6 Bed | 4 Bath | 5.5k sq. ft.

• 3356 W 44th St – $400,000 | 8 Bed | 4 Bath | 4.3k sq. ft.

• 1483 W 98th St – $375,000 | 8 Bed | 4 Bath | 4.1k sq. ft.

• 9409 Denison Ave – $335,000 | 10 Bed | 4 Bath | 3.4k sq. ft.

📌 Notable Features

• ✨ Fully occupied income-producing asset

• 🧱 Solid brick construction (attached townhome style)

• 🔥 Decorative fireplaces + original built-ins

• 🌳 Hardwood floors and oak woodwork throughout

• 🍽 Updated kitchens and bathrooms

• 🧺 Private full basements for each unit (laundry + storage)

• ⚙️ Updated mechanical systems

• 🔥 Forced-air gas heating

• ❄️ Central air (select systems)

• 🚗 Rear surface parking for four vehicles

• 📍 Corner lot location near Gordon Square

💡 Insider’s Insight

Downtown at a Crossroads

• Downtown Cleveland Inc.’s 2026 State of Downtown frames current conditions as a market “reset,” not a decline

• Office, residential, retail, and safety trends are all shifting simultaneously

• Reset conditions are opening strategic entry points for investors and developers

🏢 Office Market: Flight to Quality

• Class A office demand remains strong, especially in vibrant, amenity-rich locations

• Major employers like PNC and Sherwin-Williams are bringing workers back full-time

• Legacy office buildings under pressure, actively repositioning or seeking new uses

• Market repricing creates opportunities for acquisition, recapitalization, and adaptive reuse

🏠 Residential Market: Supply-Driven Reset

• 888 new housing units delivered downtown in 2025

• Apartment occupancy dipped to 86%, down from low-90% levels

• Oversupply and higher interest rates driving short-term softness

• Long-term outlook supported by waterfront investment and urban connectivity

🌊 Big Money, Big Picture

• Over $5B in public-private investment underway downtown

• Focused heavily on lakefront and riverfront redevelopment

• Greater Downtown Vision acting as the “connective tissue”:

  • Improved safety

  • Walkability and access

  • Public realm activation

• Expected to attract future residential, commercial, and retail demand

🏡House of the Week – Downtown Living with Riverfront Views at Stonebridge Plaza

📍1237 Washington Ave APT 611, Cleveland, OH 44113

• 💰 Price: $190,000

• 📏 Size: 768 sq ft

• 📅 Year Built: 2007

• 🛏 1 Bed | 🛁 1 Full Bath

• 🚗 1 Assigned Covered Garage Space

• 🏢 Condominium | Stonebridge Plaza

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: Set within a full-service high-rise on the West Bank of the Flats, this modern one-bedroom residence delivers true downtown convenience paired with scenic water views. The building features a staffed lobby, fitness center, elevator access, and covered parking, creating a low-maintenance lifestyle in one of Cleveland’s most dynamic waterfront locations.

Inside, warm wood floors guide you through a bright, open living space that flows seamlessly to a private balcony overlooking the water—perfect for morning coffee or winding down after work. The kitchen is outfitted with granite countertops, stainless steel appliances, and solid wood cabinetry, blending durability with clean, modern style.

The spacious bedroom offers generous closet space and comfort, while in-unit stacked laundry adds everyday practicality. With assigned garage parking, utilities included in the HOA, and immediate access to restaurants, nightlife, riverfront trails, and public transit, this home is ideal for professionals, investors, or anyone seeking lock-and-leave urban living.

👉 Listed by: Eileen Clegg McKeon & Meredith J. Babel | Howard Hanna

📞 330-705-9838 | ✉️ [email protected]

🛠 Tools & Resources We Recommend

• PropStream → Lead generation + property comps

• AirDNA → Short-term rental profitability data

• BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

• Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

• Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors

📣 Weekly Wrap-Up

🏙️ Cleveland Real Estate Weekly | Market, Development & Sales

Cleveland’s market this week reflects a city recalibrating—balancing neighborhood reinvestment, downtown repositioning, and continued demand for well-located multifamily and urban housing. Activity spans both sides of the city, with public-sector momentum, private acquisitions, and stable transactional volume reinforcing long-term fundamentals.

🏗️ Development & Civic Investment

On the East Side, CHN Housing Partners continues reversing disinvestment in Glenville, Hough, and Buckeye-Shaker by replacing vacant lots with new Parkside Homes, signaling sustained confidence in infill-driven neighborhood stabilization. Downtown, the 2026 State of Downtown frames current conditions as a “reset,” shaped by shifting office demand, post-pandemic work patterns, and a growing residential base—creating both short-term friction and strategic entry points. On the West Side, the pending sale of the historic Variety Theater on Lorain Avenue hints at renewed interest in adaptive reuse along established commercial corridors.

🏠 Just Sold Spotlight | Detroit-Shoreway Multifamily Strength

• 📍 5801 Franklin Blvd, Cleveland, OH 44102

• 💰 $591,000 | 📏 5,000 sq. ft. | 🏢 Quadruplex | Built 1910

This fully occupied Detroit-Shoreway quadruplex reinforces the neighborhood’s standing as one of Cleveland’s most resilient multifamily submarkets. Located steps from Gordon Square, the property combines historic character with functional layouts, private basements, and tenant-paid utilities. With current rents at $5,425/month and clear upside as leases roll, the asset exemplifies value-add opportunity in a walkable, culture-anchored district with long-term appreciation potential.

💡 Insider’s Insight

Downtown Cleveland’s reset is less about contraction and more about repricing and repositioning. Class A office space remains competitive, while older inventory faces pressure to adapt. Residential softness driven by recent supply is expected to normalize as waterfront and public-realm investments continue to reshape demand. Meanwhile, steady acquisition activity in neighborhoods like Detroit-Shoreway signals that investors are prioritizing walkability, transit access, and lifestyle amenities over speculative growth plays.

🏡 House of the Week | Downtown Riverfront Living

• 📍 1237 Washington Ave APT 611, Cleveland, OH 44113

• 💰 $190,000 | 📏 768 sq. ft. | 🛏 1 Bed | 🛁 1 Bath | Built 2007

This Stonebridge Plaza residence highlights attainable downtown ownership with river views, covered parking, and full-service building amenities. Ideal for professionals or investors, the unit delivers low-maintenance urban living in a location benefiting from ongoing riverfront activation and long-term connectivity improvements.

Until next week,

Cleveland Real Estate Investors

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