Tremont

Situated just southwest of downtown Cleveland, Tremont is probably the most gentrified neighborhood in the city.

Over the past few decades, tremendous redevelopment has occurred in the area, and values have skyrocketed.

There are a some fringe parts of Tremont that still have some opportunites for redevelopment (along the southern and western edges), but the core of the neighborhood is almost fully redeveloped.

There is a nice mix of old buildings and new buildings, with construction dating back to as early as the mid to late 1800s. Much of the new construction since the 1990s is townhouse/condo style developments, but there are some newer high-end fully detached single family properties as well.

Though there are still some long-time lower income residents (including the residents of the public housing projects), the caliber of tenants moving in now is generally quite high as well. Though it is a neighborhood lots of people want to invest in, it might be tough to cash flow unless a major value-add renovation is done, since the price points are already so high.

New investors are a couple decades late to the game if they want to find cash-flowing turn-key deals in Tremont.