05/13/2025
It's official! 🤝 The $2,625,000 sale of this exceptional 22-property investment package on Cleveland's Near West Side is complete. Featuring 35 total units, a prime location, and significant upside potential (including a potential 11.32% cap rate!), this transaction underscores the value and opportunity in Cleveland's real estate market. Whether you're looking to invest or sell, let's connect to discuss your goals.
I am happy to report that this family owned business was not sold to private equity, but to another couple looking to invest in our fair city!
Why Cleveland? • Affordable Investment: Cleveland offers competitive property values compared to other major cities, making it an attractive market for investors. • Resurgent City: Cleveland is experiencing a revitalization with a thriving arts scene, world-class museums, and a growing culinary scene. • Strong Rental Demand: A growing population and job market drive consistent demand for quality rental housing. • Diverse Property Mix: This package includes a variety of property types to suit your investment strategy. Key Features: • 35 Total Units: A substantial portfolio to generate significant rental income. • Prime Location: Situated in the desirable Near West Side, close to amenities and transportation. • Well-Maintained Properties: The units are in good condition, minimizing maintenance costs. • Stable Tenancy: Many long-term tenants ensure reliable cash flow. • Upside Potential: Opportunities for value-add renovations and increased rental rates. CAP RATE – 8.55% Current NOI with anticipated 2024 pay in 2025 property taxes - $236,441.52 Multiple units have extremely low rents, with increased rents, and a management agency, the Cap Rate has a potential of 11.32%. After Repair Value - $3,854,030. Portfolio consists of 14 Single Family homes, 5 Duplexes, 1 Triplex, and 2 Fourplexes.
For all of your real estate needs, contact:
Linas Muliolis
Century 21 Homestar
216-387-3204