25 Unit Turn-Key Multi-Family Package
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25 Unit Turn-Key Multi-Family Package
10 Multifamily Properties Offered at $2,350,000 in Cleveland, OH
Investment Highlights
- Turn-Key Property
Executive Summary
Turn-Key CLE proudly presents an exciting investment
opportunity: the acquisition of 10 multi-family properties (25 Units) currently
rented out in Ohio. This portfolio features all recently rehabilitated properties.
Standards for the homes in terms of capital improvements, beyond typical interior turns of kitchen, bathroom(s), paint, flooring, etc.:
• Roofs – Minimum 15 years of useful life remaining (or it gets replaced)
• Hot Water Tanks – Less than 10 years old (or it gets replaced)
• Furnaces – Less than 10 years old (or it gets replaced)
• Electric Panels – updated in compliance with current code
• Windows – Vinyl replacements where necessary
• Exterior paint and siding repairs where needed
Owner is willing to sell the entire portfolio, a portion of it "à la carte," or even one-offs, if it makes sense.
All properties are currently professionally managed. Management company has 75+ years combined experience and currently manages over 425 properties in the area.
opportunity: the acquisition of 10 multi-family properties (25 Units) currently
rented out in Ohio. This portfolio features all recently rehabilitated properties.
Standards for the homes in terms of capital improvements, beyond typical interior turns of kitchen, bathroom(s), paint, flooring, etc.:
• Roofs – Minimum 15 years of useful life remaining (or it gets replaced)
• Hot Water Tanks – Less than 10 years old (or it gets replaced)
• Furnaces – Less than 10 years old (or it gets replaced)
• Electric Panels – updated in compliance with current code
• Windows – Vinyl replacements where necessary
• Exterior paint and siding repairs where needed
Owner is willing to sell the entire portfolio, a portion of it "à la carte," or even one-offs, if it makes sense.
All properties are currently professionally managed. Management company has 75+ years combined experience and currently manages over 425 properties in the area.
Taxes & Operating Expenses (Pro forma - 2024) |
Annual |
|---|---|
| Gross Rental Income |
$271,020
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$271,020
|
| Taxes |
$19,130
|
| Operating Expenses |
$52,661
|
| Total Expenses |
$71,791
|
| Net Operating Income |
$199,229
|
Taxes & Operating Expenses (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $271,020 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $271,020 |
| Taxes | |
|---|---|
| Annual | $19,130 |
| Operating Expenses | |
|---|---|
| Annual | $52,661 |
| Total Expenses | |
|---|---|
| Annual | $71,791 |
| Net Operating Income | |
|---|---|
| Annual | $199,229 |
Property Facts
| Price | $2,350,000 | Status | Active |
| Price / SF | $99.61 / SF | Number of Properties | 10 |
| Sale Conditions | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 8.48% | Total Building Size | 23,592 SF |
| Sale Type | Investment or Owner User | Total Land Area | 0.85 AC |
| Price | $2,350,000 |
| Price / SF | $99.61 / SF |
| Sale Conditions | Bulk/Portfolio Sale |
| Cap Rate | 8.48% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 10 |
| Individually For Sale | 0 |
| Total Building Size | 23,592 SF |
| Total Land Area | 0.85 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2151 W 81st St, Cleveland, OH 44102 | Multifamily | 1,460 SF | 1900 | - |
| 3124 W 90th St, Cleveland, OH 44102 | Multifamily | 2,070 SF | 1924 | - |
| 3344 Seymour Ave, Cleveland, OH 44113 | Multifamily | 3,756 SF | 1900 | - |
| 3394 W 100th St, Cleveland, OH 44111 | Multifamily | 1,672 SF | 1911 | - |
| 3609 W 47th St, Cleveland, OH 44102 | Multifamily | 1,842 SF | 1900 | - |
| 3975 W 23rd St, Cleveland, OH 44109 | Multifamily | 2,282 SF | 1918 | - |
| 3114 W 73rd St, Cleveland, OH 44102 | Multifamily | 3,438 SF | 1860 | - |
| 12000 Bennington Ave, Cleveland, OH 44135 | Multifamily | 2,024 SF | 1915 | - |
| 10310 Adelaide Ave, Cleveland, OH 44111 | Multifamily | 2,032 SF | 1919 | - |
| 4500 W 39th St, Cleveland, OH 44109 | Multifamily | 3,014 SF | 1904 | - |
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25 Unit Turn-Key Multi-Family Package
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