Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1910
Sq.Footage
N/A
Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland’s westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. 7944 Lorain Ave, 3308 W 90th St, 3185 W 58th St, 3150 W 40th St, and 3324 W 32nd St. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 3 occupied units and 7 units vacant or in turnover, creating an opportunity for experienced investors to renovate, lease-up, and increase rents across the portfolio. The unit mix consists of 2- and 3-bedroom units, with market rents in the surrounding areas supporting approximately $1,000–$1,200 per unit once renovated and stabilized. Estimated renovation scope across the portfolio is approximately $120,000, including one heavier project requiring mechanical replacement and exterior improvements, along with several lighter unit turns. Once stabilized, the portfolio has the potential to generate $120K+ in annual gross rental income, with projected portfolio value approaching $950K–$1M. The property will be sold as the a portfolio during the initial marketing period. Ideal opportunity for experienced investors or operators seeking a westside Cleveland value-add multifamily project. Property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695k for the entire package.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Heating YN
YES
-
Heating
Natural Gas
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.57
-
Property Type
Commercial Sale
-
Property Sub Type
Apartment
Price
-
Sales Price
$695,000
-
Tax Amount
$10,462
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
Yes
-
Association Fee 2
$550
-
Association Fee Includes
N/A
School District
-
Elementary School
Cleveland Municipal - 1809
-
Middle School
N/A
-
High School
N/A
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Location
County
Cuyahoga
Elementary School
Cleveland Municipal - 1809
Middle School
High School
Listing Courtesy of Michael L Magno , Keller Williams Living
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