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1683 Colonial Drive, 
Cleveland Heights, OH 44118

$345,000


7

Beds


3

Baths


2,799

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Tal Tamir

Russell Real Estate Services

440-201-9850

Last updated:

November 20, 2025, 03:28 PM

MLS#

5168272

Source:

OH NORMLS

About This Home

1683 Colonial Drive

Investor’s dream meets house-hacker’s paradise! This fully updated three-unit gem is just minutes from the vibrant Coventry Village, offering both strong returns and endless flexibility. The first-floor unit is a spacious 3-bed, 1-bath leased for $1,500/month, while the freshly vacated second-floor 3-bed, 1-bath (previously rented at $1,800/month) is move-in ready, perfect for an owner-occupant to live in comfort while your tenants pay the mortgage. The third unit, a charming 1-bed, 1-bath Airbnb/midterm rental, averages $1,500/month, giving you multiple income streams and short-term rental upside. Once fully occupied, enjoy an impressive 10%+ cap rate and nearly 15% cash-on-cash return, a true turnkey opportunity whether you’re adding to your portfolio or diving into your first investment. With modern updates, central air, reliable income, and unbeatable proximity to shops, dining, and nightlife, this property delivers financial freedom and lifestyle flexibility in one rare package. *Note - County auditor website states that there are 4 bedrooms and 2 bathrooms but the owner states that there are 7 bedrooms and 3 bathrooms.

Home Facts

Multi-Family

3 Baths

7 Bedrooms

Built in 1912

Price Summary

345,000

$123 per Sq. Ft.

MLS #:

5168272

Last Updated:

November 20, 2025, 03:28 PM

Added:

11 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Interior

Living Area:

2,799 Sq. Ft.


Structure

Structure

Building Area:

2,799 Sq. Ft.

Year Built:

1912


Lot

Lot Size (Sq. Ft):

4,791


Finances & Disclosures

Finances

Price:

$345,000

Price per Sq. Ft:

$123 per Sq. Ft.

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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.