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Writer's picturePromise Land Realty

Buy & Hold (Rental): 37-Unit Single-Family and Small Multifamily Portfolio – Cleveland, OH + $1,692,000

Single Family Investment Opportunity



1227 E 113th St, Cleveland, OH 44108

400 E 123 St, Cleveland, OH 44108

529 E 124 St, Cleveland, OH 44108

470 E 127 St, Cleveland, OH 44108

12614 Locke Ave


Price

$1,692,000


37-Unit Single-Family and Small Multifamily Portfolio – Cleveland, OH

Exceptional opportunity to acquire a 37-unit portfolio of single-family homes and small multifamily properties (1-4 units) in Cleveland, OH. This off-market package offers a balanced mix of rental properties, with many currently occupied and generating steady cash flow. Each property is positioned in established neighborhoods, appealing to investors seeking a high-yielding portfolio in a cash-flowing market.


Portfolio Highlights:

  • Total Units: 37 (Mix of single-family and 1-4 unit properties)

  • Asking Price: $1,692,000 ( 7% cap rate)

  • As-is Value: $2,205,000

  • After Repair Value (ARV): $2,770,000

  • Total Monthly Rent: $16,450

  • Total Annual Rent (Gross Income): $197,400

  • Average Price per Property: $67,712

  • Average Price per Unit: $47,581

  • Occupancy: Combination of privately rented, CMHA-assisted, and some properties occupied by family members.


Financial Metrics:

  • Net Operating Income (NOI): $118,440 (estimate)

  • Cap Rate: 7%


Property List and Individual Prices:

  1. 1227 E 113th St, Cleveland, OH 44108 - $123,500

  2. 529 E 124 St, Cleveland, OH 44108 - $75,500

  3. 400 E 123 St, Cleveland, OH 44108 - $53,500

  4. 1452 Clermont Rd, Cleveland, OH 44110 - $53,500

  5. 470 E 127 St, Cleveland, OH 44108 - $63,500

  6. 12614 Locke Ave, Cleveland, OH 44108 - $71,500

  7. 375 E 123 St, Cleveland, OH 44108 - $59,500

  8. 11710 Hazeldell Rd, Cleveland, OH 44108 - $71,500

  9. 12421 Maple Ave, Cleveland, OH 44108 - $53,500

  10. 19651 Locherie Ave, Euclid, OH 44119 - $99,500

  11. 404 E 123 St, Cleveland, OH 44108 - $53,500

  12. 1723 Noble Rd, East Cleveland, OH 44112 - $75,500

  13. 12421 Vashti Ave, Cleveland, OH 44108 - $53,500

  14. 675 E 127 St, Cleveland, OH 44108 - $59,500

  15. 535 E 123 St, Cleveland, OH 44108 - $75,500

  16. 10317 Pierpont Ave, Cleveland, OH 44108 - $59,500

  17. 435 E 114 St, Cleveland, OH 44108 - $67,500

  18. 12417 Maple Ave, Cleveland, OH 44108 - $67,500

  19. 476 E 127 St, Cleveland, OH 44108 - $59,500

  20. 480 E 127 St, Cleveland, OH 44108 - $67,500

  21. 491 Eddy Rd, Cleveland, OH 44108 - $67,500

  22. 545 E 123 St, Cleveland, OH 44108 - $67,500

  23. 9805 Pierpont Ave, Cleveland, OH 44108 - $91,500

  24. 544 E 123 St, Cleveland, OH 44108 - $126,000

  25. 519 E 123rd St, Cleveland, OH 44108 - $67,500

  26. 12522 Gruss Ave, Cleveland, OH 44108 - $67,500


Seller Story:The seller is looking to retire and enjoy warmer weather, seeking a fresh start due to life changes. With a desire to “open his golden parachute,” this sale is his opportunity to move forward and step away from the day-to-day of property management. This presents a unique chance for investors to acquire a fully-assembled portfolio with significant income potential in a desirable market.


TEAM PROMISELAND Marketing Disclaimer:This listing is exclusively marketed by TEAM PROMISELAND and is intended for verified investors within our network. Any marketing or distribution of this listing by third parties without direct authorization from TEAM PROMISELAND is strictly prohibited. Please note that all prospective buyers must be verified members of the TEAM PROMISELAND JV partnership program.



Submission Terms:Please submit all offers directly to investments@promiselandrealtyllc.com. Serious inquiries only, and Proof of Funds (POF) may be required for further details.




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"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"






PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top

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