3848 E 186th ST Pending Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44122
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Subdivision H J Morrison Bldg Cos 02
MLS Listing ID 5043307
Year Built 1951
Annual Tax Amount $5,238
Tax Year 2023
Lot Size 0.864 Acres
Property 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!
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange
Special Listing Condition Standard