Map
Listed price in listed location currency (USD).
$420,000
$449,900

000

MLS® 5043307

Overview

Key Facts

Type Other
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $5,238
Approx. Age 1951
MLS® Number 5043307

Property Address: 3848 E 186th St, Cleveland, OH, 44122-6559

Average square foot calculated using Size range provided by listing agent.

Description

Fantastic opportunity for investors to acquire a 5-property SFR portfolio in the highly desirable 44122 and 44128 zip codes. Four of these properties are currently occupied, generating a total of $4, 207 per month in gross rental income. The fifth property is vacant and requires some cosmetic updates to become rent-ready. The owner currently covers water and sewer expenses for the entire portfolio. With a proforma portfolio rent of approximately $7, 000 per month, this deal presents a potential future cap rate of 12%! The properties are located in close proximity to each other, facilitating a smooth and efficient takeover process and easy management. Notably, the property at 4416 E 154th is subsidized, while the remaining properties are market rate, offering an ideal opportunity to transform this portfolio into a hands-off, cash-flowing Section 8 investment. Very straightforward and a great pick-up for any investor!
MLS® Number5043307
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1951
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

Sep 30, 2024End Date
$420,000Sold Price

Sold

Jun 4, 2024List Date
$449,900List Price

Map

Curious about your home's value?

Similar Listings

Comparable Properties