$575,000
About this home
Unique Cleveland eastside multifamily portfolio opportunity featuring five buildings plus an additional parcel of land, totaling 18 units with a diverse unit mix of studios, 1-bedroom, 2-bedroom, 3-bedroom, and one 5-bedroom unit. The portfolio is currently fully vacant and offers significant value-add potential through renovation, lease-up, and stabilization. Proforma projections show annual gross rental revenue of $211,800 and proforma NOI of $147,898, with area rent comps supporting strong upside across the unit mix. Projected market rents include up to $1,100 for 2-bedroom units, $1,350–$1,400 for 3-bedroom units, and $1,750 for the 5-bedroom unit. Properties require varying levels of renovation, with most major capital improvements factored into the proforma. Comparable neighborhood sales support an estimated ARV around $1.2M, creating a strong margin for repositioning. Ideal for investors looking to renovate and refinance, reposition and hold, or sell as a stabilized package. Buildings are located within close proximity to each other, helping streamline management, and are near parks, schools, restaurants, and major Cleveland employment centers. Properties may be purchased individually or as a package. Contact Erin Thomas at KW Commercial for full financials, rent comps, and tour details. Buyer to verify all information.
Property details
- MLS #
- 5230485
- Property type
- Apartment
- Subdivision
- Abraham Fullers Allotment
- Status
- Active
- Days on market
- N/A
- On market date
- July 24, 2026
- Stories
- 3
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.1221 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 699
- Student:teacher ratio
- 15.5:1
- District
- Village Preparatory School Woodland Hills
- Enrollment
- 581
- Student:teacher ratio
- 11.9:1
- District
- Cleveland Heights-University Heights City
- Enrollment
- 486
- Student:teacher ratio
- 16.2:1
- District
- Cleveland Municipal
Walkability
Blended score for Cleveland's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Cleveland, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated July 24, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.