1005 Nela View Road, Cleveland Heights, OH 44112

Property Description

Fully occupied 9-property residential rental portfolio! Offered at $1,625,000, this established portfolio generates $12,674 in gross monthly rental income ($152,088 annually), with an estimated stabilized Net Operating Income (NOI) of $118,668 and a 7.30% capitalization rate. Located throughout Cleveland, Cleveland Heights, Euclid, and East Cleveland, this portfolio provides multiple rental income streams, and immediate cash flow. Currently operating at 100% occupancy, all but one property have undergone renovations, reducing anticipated immediate capital improvement needs. The utility structure supports operating performance, with tenants responsible for all gas and electric expenses and tenants at two properties also paying water and sewer. NOI includes property taxes, estimated insurance, previous operating expenses and an annual repairs and maintenance reserve. This portfolio includes: 1569 E 256th St, Euclid; 1285 E 137th St, East Cleveland; 1511 E 248th St, Euclid; 1371 E 185th St, Cleveland; 1463 Babbitt Rd, Euclid; 16112 Greyton Rd, East Cleveland; 16118 Greyton Rd, East Cleveland; 1005 Nela View Rd, Cleveland Heights; and 1435 Clermont Rd, Cleveland. Ideal for investors seeking to expand their holdings with an established, cash-flowing rental portfolio offering immediate income and long-term investment potential. Properties are offered together as a portfolio. Call today for more details!