50
See all 50 photos
$2,250,000
Est. payment /mo
1.55 Acres Lot
New
2883 E 114th ST Cleveland, OH 44104
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Harvey Rice Jr S Sub
MLS Listing ID 5165403
HOA Y/N No
Year Built 1926
Annual Tax Amount $22,640
Tax Year 2024
Lot Size 1.550 Acres
Acres 1.55
Property Sub-Type Other
Property Description
Extremely rare opportunity to acquire a fully cash-flowing, stabilized 39-unit portfolio across 13 properties in the Cleveland market. Located in strong submarkets known for steady demand and appreciation.
Currently ~90% occupied, with four units in lease-up to subsidized tenants—expected to be fully leased by closing. Includes 26 Section 8 tenants providing reliable, government-backed income.
All gas/electric paid by tenants; owner covers only water/sewer. Professional management in place for seamless transition.
Once fully occupied, projected 10%+ CAP, with upside to 13%+ CAP / 20%+ cash-on-cash through rent alignment.
Turnkey Cleveland portfolio delivering immediate income and long-term growth.
Currently ~90% occupied, with four units in lease-up to subsidized tenants—expected to be fully leased by closing. Includes 26 Section 8 tenants providing reliable, government-backed income.
All gas/electric paid by tenants; owner covers only water/sewer. Professional management in place for seamless transition.
Once fully occupied, projected 10%+ CAP, with upside to 13%+ CAP / 20%+ cash-on-cash through rent alignment.
Turnkey Cleveland portfolio delivering immediate income and long-term growth.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Present Use Multi-Family,Residential,Single Family
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 128-29-006
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687
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