20 unit with 9.77% cap rate 6 Multifamily Properties Offered at $899,000 in Cleveland, OH

** SELLER FINANCING AVAILABLE**
20-Unit, 6-Property Cleveland Portfolio—Cash Flow & Value-Add at a current 10% Cap rate
Unlock immediate income and big upside with this rare 20-unit, 6-property portfolio in Cleveland.
Four properties are conveniently clustered within walking distance on the east side, while two are near each other on the west side in the 44102 zip code—offering both operational efficiency and geographic diversity.
Current gross income exceeds $13,000/month with 2 vacancies providing instant value-add potential. Rents are well below market, averaging $725 per unit with CMHA quoting 2-bed units at $1129 for a 2 bed unit! The portfolio is already delivering a cap rate over 9.77% as-is, with a proforma cap rate projected near 15% once fully stabilized and updated. Proforma income tops $20,000/month and ARV is estimated at $1.3M.
Consisits of:
1- 8 unit. (eastside)
1- quad (eastiside)
1- triplex (Eastside)
2- duplex (both)
1- Single family (westside)
ARV is over 1.2M!
Units will require some some renovation, updates and hands-on management, but the bones are solid and the upside is very real.
This is a perfect opportunity for buyers seeking steady cash flow, value-add, and scale in one of Cleveland’s strongest rental corridors. Sellers will consider splitting the east and west side groups, but full portfolio offers are preferred.
SELLER FINANCING: the buyer will be properly vetted and rate/terms will depend on the buyers strength and experience. Seller financing is only available for the entire portfolio- not for the sale of individual units.
Multiple offer scenarios will be accepted.
The portfolio can be split up - but preference will be given to those interested in the entire portfolio.
Contact us today for financials, rent rolls, and showings—opportunities like this don’t last!