Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1926
Sq.Footage
N/A
Turnkey, as-is Cleveland multifamily portfolio featuring 4 duplexes / 8 total units offered at $702,000. The properties are clustered on Cleveland’s east side, providing investors an opportunity to acquire immediate scale with efficient management and maintenance across the portfolio. More than $120,000 in capital improvements have been completed, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing/sewer work, porches, gutters, windows, cabinets, appliances, and interior renovations. Two properties are fully occupied and producing income, while two are vacant, renovated, and rent ready. 15332 Welton Dr is fully Section 8 occupied at $2,300/mo. 10906 Nelson Ave is fully occupied at $1,680/mo with HUD FMR of approximately $2,140/mo, creating strong rent-growth potential. 3611 E 116th St is rent ready with approximately $2,740/mo in HUD FMR and potential for a 4-bedroom upper-unit conversion. 9223 Adams Ave is rent ready at approximately $2,320/mo HUD FMR and offers significant value-add potential through a possible 5-bedroom upper-unit configuration. Current blended rents total approximately $9,040/mo or $108,480 annually, with an estimated 9.86% portfolio cap rate. Additional upside remains through rent increases and bedroom-count conversions. Located near University Circle, Cleveland Clinic, University Hospitals, Case Western Reserve University, Downtown Cleveland, major highways, public transportation, and employment centers. Ideal for investors seeking a turnkey cash-flowing portfolio with existing tenants, rent-ready units, completed capital improvements, and clear value-add opportunities. Photo Note: Interior photos currently shown are of 3611 E 116th St. Interior photos of 9223 Adams Ave are coming soon. Portfolio sold as-is. No showings without an accepted offer on occupied units.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
NO
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Driveway
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.0892
-
Property Type
Commercial Sale
-
Property Sub Type
Apartment
Price
-
Sales Price
$702,000
-
Tax Amount
$3,499
-
Zoning
Multi-Family
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Cleveland Municipal - 1809
-
Middle School
Cleveland Municipal - 1809
-
High School
Cleveland Municipal - 1809
Property Features
-
Foundation Details
Slab
-
Sewer
Public Sewer
-
Water Source
Public
Schedule a Showing
Showing scheduled successfully.
Mortgage calculator
Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.
Your payment
Principal and Interest:
$
Property taxes:
$
HOA fees:
$
Total loan payment:
$
Total interest amount:
$
Location
County
Cuyahoga
Elementary School
Cleveland Municipal - 1809
Middle School
Cleveland Municipal - 1809
High School
Cleveland Municipal - 1809
Listing Courtesy of Kim Lewis, Home Equity Realty Group
RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Agent / Realtor®
Carla Ponikvar
Call Carla today to schedule a private showing.
* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.