APARTMENT - Cleveland, OH
20-Unit, 6-Property Cleveland Portfolio-Cash Flow & Value-Add with 12% Proforma 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 on the west side in the 44102 zip code-offering both operational efficiency and geographic diversity. Current gross income exceeds $13,000/month with 3 vacancies providing instant value-add potential. Rents are well below market, with CMHA quoting $1,129/month for 2-bed units, making rent increases and lease-up a clear path to stronger returns. The portfolio is already delivering a cap rate over 9% 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. Units will require some updates and hands-on managemen...
20-Unit, 6-Property Cleveland Portfolio-Cash Flow & Value-Add with 12% Proforma 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 on the west side in the 44102 zip code-offering both operational efficiency and geographic diversity. Current gross income exceeds $13,000/month with 3 vacancies providing instant value-add potential. Rents are well below market, with CMHA quoting $1,129/month for 2-bed units, making rent increases and lease-up a clear path to stronger returns. The portfolio is already delivering a cap rate over 9% 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. Units will require some updates and hands-on management, but the bones are solid and the upside is real. New ownership can boost income through simple repairs, filling vacancies, and bringing rents to market. 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. Includes: 1176, 1180 & 1187 E 61 St, 1167 E 60, 3355 W 91 & 3326 w 73 St Contact us today for financials, rent rolls, and showings-opportunities like this don't last!
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