2951 67Th StCleveland, OH 44127

For Sale
$1,700,000

30 Units, High-Yield Potential

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional 30-unit multifamily investment opportunity in Cleveland, Ohio, is priced at $1,700,000. The portfolio comprises 19 single-family homes, 3 duplexes, and 1 triplex, located at 2951 E 67th St, Cleveland, OH 44127, within Cuyahoga County. Currently operating at 87% occupancy, the portfolio generates a gross monthly rent of $23,199, projecting a pro-forma NOI of $142,018 and an attractive 8.35% pro-forma cap rate. The portfolio presents a significant value-add opportunity due to the majority of rents being subsidized and below 2024 HUD fair market rents, allowing for substantial income growth through market-rate adjustments. Professional property management is currently in place, overseeing maintenance and annual inspections, ensuring a smooth transition for the new owner. The portfolio's strong performance and significant upside potential make it an ideal investment for experienced real estate investors seeking immediate cash flow and long-term appreciation. The price per unit is $56,667. This is a turnkey operation ready to generate immediate returns.

Highlights

  • $1,700,000 asking price for a 30-unit multifamily portfolio in Cleveland, OH.
  • Value-add investment opportunity with a pro-forma cap rate of 8.35%.
  • Currently 87% occupied, generating a pro-forma NOI of $142,018.
  • Portfolio consists of 19 single-family homes, 3 duplexes, and 1 triplex.
  • $56,667 per unit price.

Property Details for 2951 67Th St

Property type
Multifamily properties, Residential income homes
Units
30

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.4782071
Longitude
-81.6435572
2951 67Th St, Cleveland, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2951 67Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message