39 Unit Cleveland Portfolio Multi-Family FOR SALE


Cleveland, OH - St Clair-Superior
$2,250,000 USD
440-526-9400
, Cleveland, OH for Sale
$2,250,000 USD
Multi-Family - FOR SALE
1/78
null | 10.45% Cap Rate

39 Unit Cleveland Portfolio
Cleveland, OH
St Clair-Superior


HIGHLIGHTS

  • Cash-flowing & stabilized with strong value-add potential
  • 26 reliable Section 8 tenants
  • 13 properties | 39 units in high-demand submarkets
  • Proforma monthly rent: $40,150
  • Proforma CAP: 13%+ | 20%+ cash-on-cash returns
  • Rent increases achievable via standard Section 8 adjustment submissions

OVERVIEW

An extremely rare opportunity to acquire a fully cash-flowing, stabilized portfolio in the highly sought-after Cleveland rental market. This impressive collection of 13 properties, totaling 39 units, is strategically located in strong submarkets recognized for consistent demand, tenant retention, and long-term appreciation. Currently ~90% occupied, with four units in active lease-up to subsidized tenants (expected to be fully leased by closing), this portfolio offers immediate income stability and strong upside potential. Once fully occupied, the portfolio is projected to deliver a cap rate exceeding 10%. The portfolio currently includes 26 Section 8 tenants, providing reliable, government-backed income and confirming that the properties are in good condition, having already passed Section 8 inspections. This also allows a new owner to easily increase rents through standard Section 8 rental adjustment submissions—without any physical work or capital improvements required. To ensure a smooth and seamless transition, a professional property management company has already agreed to manage the portfolio, offering experienced oversight and continuity from day one. All electric and gas utilities are tenant-paid, while ownership covers only water and sewer, minimizing operating costs and enhancing net operating income. This is a true turnkey, cash-flowing asset with significant value-add potential. By aligning all rents to market and Section 8 program rates, investors can achieve a 13%+ cap rate and 20%+ cash-on-cash returns — a rare find in today’s market. Don’t miss this opportunity to secure a high-yield, scalable Cleveland portfolio offering immediate cash flow and exceptional long-term growth.

ASK ABOUT THIS PROPERTY

Ted ShoafRussell Real Estate ServicesMore Info
440-526-9400

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Ted ShoafRussell Real Estate ServicesMore Info
440-526-9400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.