Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1905
Sq.Footage
N/A
This FULLY OCCUPIED Westside Portfolio opportunity is now available! Consisting of 38 total properties with 35 in some of Cleveland’s fastest appreciating westside areas. This 43 door portfolio is being offered at a current 7.5% cap rate! Consisting of mostly single families, this package offers multiple exit strategies that assist you in maximizing your profits. The current NOI is over $250k with a pro forma NOI at over $400k+. The cap rate once stabilized exceeds well into the double digits. There are 5 duplexes and 33 single family homes with over 100 bedrooms! Low expenses provide higher cash flow and the total taxes are under an average of $1k/ year/ property. Owner pays water and trash. The NOI was calculated adding in 10% management, 5% maintenance, 5% vacancy, taxes, insurance and water/sewer costs so numbers are very real. Financials and photos of each are available from the listing agent. Selling as package only. The seller is open to splitting the 3 Eastside Properties off if necessary. (Note: ONLY those three properties are available to be split off). This is a great opportunity to create cash flow and equity.
Features & Amenities
Interior
Area & Lot
-
Property Type
Commercial Sale
Exterior
-
Garage
No
Financial
-
Sales Price
$3,500,000
-
Tax Amount
34398.0
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Location
County
Cuyahoga
Elementary School
Cleveland Municipal - 1809
Middle School
High School
Listing Courtesy of Gregory Erlanger , Keller Williams Citywide
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FOUNDER
TysonHartzler
Call Tyson today to schedule a private showing.
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