7 Unit Murray Hill Portfolio W/Parking 3 Multifamily Properties Offered at $1,250,000 in Cleveland, OH

Cleveland Property Management, Cleveland’s premiere residential property manager is excited to offer a rare opportunity for a smart investor to acquire 7units with 10 off street parking spaces in Cleveland’s sought after “Little Italy” neighborhood. This portfolio features 3 properties. 2158 Murray Hill is a fully renovated 3-unit property. 2155 Murray Hill is a renovated duplex, and 2159 Murray Hill is another renovated duplex. In the rear of 2159 Murray hill is paved off street parking for 10 cars. Because the buildings are all adjacent to one another residents in all 3 buildings use this parking area.
Little Italy is an exciting neighborhood with fine dining, walkability and proximity to University Circle, Case Western Reserve University, The Cleveland Institute of Music, The Cleveland Institute of Art University Hospitals main campus and the Cleveland Clinic main campus. The combination of high walkability, fine lifestyle and easy access to education and jobs makes this the most sought-after neighborhood in Cleveland. The fact that this portfolio has ample off-street parking makes it a unique gem in this already exciting neighborhood.
All units are renovated and positioned for maximum rent in the market. The combination of location, quality of units and ample off-street parking make this a truly unique opportunity for an investor to gain maximum rent in a stable and easy-to-manage location. At the current rent and asking price, this offering produces a stable cap rate of 8.95% while enjoying maximum appreciation.
The seller will be using a 1031 Exchange in the sale of this portfolio. Buyers will be asked to be flexible with closing dates to accommodate the 1031 Exchange. Contact Laird Wynn with Cleveland Property Management today to place your offer!