Info on Clark-Fulton Cleveland Ohio
Hello all, I'm not sure this is the right area to post this in, but I'm interested in purchasing a multi-unit for my first rental in the Clark Fulton neighborhood in Cleveland. I'm from out of state and this would be my first rental. I've been doing a lot of research and have been getting mixed answers in regards to the area.
The property will have inherited section 8 tenants and the sellers have sent me as much info as possible to prove that they have and will be long term tenants and they are good tenants.
I've been told to stay away from this area because it's war-zone, but I've also been told that the city has been putting money into the area to re-gentrify it. It's in the immediate neighborhood of the Metro hospital and I've read that they have been cleaning up the surrounding neighborhoods and will start building or creating housing for the hospital's employees.
Any input is greatly appreciated.
Most Popular Reply
I am lifelong resident of Cleveland, a licensed Realtor and property manager. I know this area of concern to you.
It is low income, but I would not consider it "war zone". However, I would not count on Metro Hospital having any impact on this neighborhood... sounds like wishful thinking or BS. Not the same neighborhood.
I also would not bank on gentrification of this neighborhood. It is what it is. Lots of people live here by choice. Rents are low, but so are property acquisition costs.
Many older, neglected homes. Pay close attention to deferred maintenance. Get an inspection. City of Cleveland requires a rental permit. Make sure you have one on this property.
Good luck.
Feel free to contact me if you have specific questions.