$649,000

A truly rare opportunity in the heart of Cleveland’s beloved and historic Little Italy! This 0.26-acre parcel offers an exceptional chance to own a piece of one of the city’s most vibrant and sought-after neighborhoods. Currently situated with a duplex, the existing structure provides an opportunity to renovate and utilize the property as-is, while the size and layout of the parcel create potential for the ultimate Little Italy land opportunity: 10-Unit Luxury Development Potential OR Premier Private Estate Site, subject to zoning and applicable approvals. Positioned on an expansive 11,300+ sq. ft. corner lot, this property offers unprecedented scale, high-margin flexibility, and an elite location tailored perfectly for developers, syndicators, or a private buyer looking to build a landmark custom compound steps from CWRU and UH. For the high-yield development play, the sale includes 5 site plan scenarios, density study and zoning review, and Phase I architectural designs for a 10-door luxury micro-community engineered to yield a projected $324,000–$336,000 annually based on preliminary financial modeling. The conceptual plans layout a brand-new luxury duplex and 8 additional luxury detached 1-bedroom units with highly coveted off-street parking via integrated detached garage Spaces. The unique depth and beautiful, wooded hillside topography provide stunning natural privacy, tranquil landscaping possibilities, and a sprawling multi-car owner footprint that is otherwise impossible to find within the dense historic district. Whether utilizing the existing 1,948 sq. ft. duplex for immediate rental cash flow during planning or breaking ground immediately, this rare asset is also uniquely positioned to qualify for Cleveland's lucrative 15-year residential property tax abatement program. Designs, layout details, and site plot maps are fully available in the MLS supplements. Bring your vision and explore the possibilities this remarkable Little Italy property has to offer!