3848 E 186th Street , Cleveland, OH 44122
Cleveland, OH 44122
Description
Fantastic opportunity for investors to acquire a 5-property SFR portfolio in the highly desirable 44122 and 44128 zip codes. Four of these properties are currently occupied, generating a total of $4,207 per month in gross rental income. The fifth property is vacant and requires some cosmetic updates to become rent-ready. The owner currently covers water and sewer expenses for the entire portfolio. With a proforma portfolio rent of approximately $7,000 per month, this deal presents a potential future cap rate of 12%! The properties are located in close proximity to each other, facilitating a smooth and efficient takeover process and easy management. Notably, the property at 4416 E 154th is subsidized, while the remaining properties are market rate, offering an ideal opportunity to transform this portfolio into a hands-off, cash-flowing Section 8 investment. Very straightforward and a great pick-up for any investor!
Details
| MLS# | 5043307 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1951 |
| Days On Site | 104 |
| Listing Provided By | Russell Real Estate Services | Tal Tamir |
Features
| Acreage | 0.86 |
|---|
Market Activity 44122
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44122 |
| Community Name | H J Morrison Bldg Cos 02 |
| Listing VS Median (in H J Morrison Bldg Cos 02) | |
Price: $449,900 low | high Med: $0 On Site: 104 low | high Med: | |