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January 07, 2025

Good morning, Cleveland Investors! As the Browns' potential move to Brook Park stirs up local debates, let's shift our focus to the dynamic real estate opportunities in our city. 🏘️✨

Let's get started! 👇

In todays edition:

  • Browns' Proposed Stadium Relocation Sparks Controversy

  • Luxury Apartment Complex in Tremont Sold for $12M

  • Ohio City: A Prime Location for Short-Term Rentals

Browns' Proposed Stadium Relocation Sparks Controversy

The Cleveland Browns have announced plans to build a $2.4 billion domed stadium in Brook Park, a suburb 12 miles south of Cleveland. This proposal has led to significant backlash from fans and city officials, with Cleveland Mayor Justin Bibb invoking the "Modell Law" to potentially block the move. The outcome of this dispute could influence property values and development opportunities in both downtown Cleveland and Brook Park.

Cleveland Suburbs See Shift from Homeownership to Renting

Recent studies indicate that several Cleveland suburbs now have more renters than homeowners. This trend may impact investment strategies, as increased rental demand could lead to higher rental rates and a surge in multifamily property developments in these areas.

Cleveland Housing Market Experiences Significant Growth

The Cleveland housing market has shown notable appreciation, with home values increasing by 10.6% over the past year. This upward trend is expected to continue, with projections suggesting an additional 4.5% rise by year's end. Investors should consider the potential for capital appreciation in this evolving market.

Luxury Apartment Complex in Tremont Sold for $12M

A luxury apartment complex in the Tremont neighborhood has been sold for $12 million. This transaction underscores the growing demand for high-end rentals in Cleveland's urban areas, indicating potential opportunities for investors in the luxury segment.

Historic Warehouse District Building Acquired for Mixed-Use Development

A historic building in Cleveland's Warehouse District was recently purchased by a developer planning to convert it into a mixed-use space featuring residential units and ground-floor retail. This acquisition highlights the ongoing trend of revitalizing historic properties to meet the demand for urban living and amenities.

Ohio City: A Prime Location for Short-Term Rentals

With its walkability and vibrant attractions, Ohio City boasts some of the highest short-term rental ROIs in Cleveland. The neighborhood's eclectic mix of restaurants, breweries, and cultural sites attracts a steady stream of visitors. Investors can capitalize on this demand by offering well-appointed short-term rental properties, potentially achieving average nightly rates between $150 and $200.

The C.R.E.I Off-Market

Downtown Cleveland Duplex

  • Price: $250,000

  • Rent: $2,500/month

  • ROI: 9%

  • CTA: View Full Listing (Premium)

Lakewood Triplex Near Transit

  • Price: $350,000

  • Rent: $3,800/month

  • ROI: 10.5%

  • CTA: View Full Listing

University Circle Single-Family Home

  • Price: $400,000

  • Rent: $3,200/month

  • ROI: 8%

  • CTA: View Full Listing

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