10 units | 10% cap Eastside portfolio Multi-Family FOR SALE


Cleveland, OH - Hough
$650,000 USD
440-670-2300
, Cleveland, OH for Sale
$650,000 USD
Multi-Family - FOR SALE
1/7
null | 10.16% Cap Rate

10 units | 10% cap Eastside portfolio
Cleveland, OH
Hough


HIGHLIGHTS

  • Guaranteed Rents - Primarily CMHA tenants
  • $4000 / mo Equity to create

OVERVIEW

5 property portfolio on Clevelands Eastside with a 10% cap rate! Portfolio Snapshot: Unit Mix: 1 Quad, 1 triplex and 3 Single-Family Homes Total Units: 10 (across 5 parcels) Current Rent Roll: $9313/month Proforma Rent Roll: $14,000+/month Average Rent (current/proforma): $931 / $1398 per unit 2025 Projected NOI: $66,016 (based on current T6) Cap Rate: 10.16% Proforma Cap rate : 15.87% Vacancy: 2 units Tenant Mix: Primarily Section 8 Total ARV : $702,000 This is a rare chance to own a stabilized, income-producing 10-unit portfolio—spread across 5 Cleveland properties in strong neighborhoods. The package includes 1 quad, 1 triplex and 3 single-family homes, offering diversification and simple management under one umbrella. The portfolio currently brings in $9313 per month, with most tenants on Section 8 for consistent, reliable rent collections. The average rent is $930/unit and the proforma is nearly $14,000/month. Filling the vacant units alone adds $33,600/ year to the NET ($2800/mo) Many units are already updated in some way, so there’s little need for large upfront investment. Current NOI is $66,016, which delivers a 10.16% cap rate at asking price. With an estimated proforma cap rate of over 16% this is a rare opportunity for both strong yield and future equity growth. This portfolio is ideal for investors seeking easy transition, cash flow from day one, room to grow income and equity, and long-term appreciation in one of the Midwest’s most resilient rental markets and offers the opportunity for easy transition, ability to create some equity with little cash input and long term appreciation. Whether you're looking to scale in Cleveland, tap into Section 8 rent stability, or invest in a well-managed portfolio with built-in upside, this opportunity checks all the boxes. This seller is also selling 15 more units, spread across 9 Westside properties for $1.22M Visit Portfolio map here: https://www.google.com/maps/d/u/0/edit?mid=1aOfwiWIqrz2RARd2P47bVkbeXjYRJgI&usp=sharing Visit Property Website: ?? Contact us today for full financials, rent rolls, and to schedule a portfolio tour. Properties include: 1082 E 78th St, Cleveland 44103 929 Thornhill Dr Cleveland 44108 10502 Park Heights Rd, cleveland 44125 3683 E 54th St cleveland 44105 5101 Dalton Ave Cleveland 44105

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Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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