3114 86Th StCleveland, OH 44102
- Investment properties
Property Details for 3114 86Th St
- Property type
- Investment properties
- Property subtype
- Multifamily properties
Description
This exceptional investment opportunity presents a portfolio of 45 single-family rental homes located throughout Ohio, generating a substantial net operating income (NOI) of $396,264 and boasting a 9.50% capitalization rate. The portfolio is priced at $4,171,199 and comprises properties situated in Cleveland (4 units), Youngstown (28 units), Boardman (2 units), and Warren (11 units). The majority of units are currently leased, with tenants under Section 8 or cash rental agreements, providing a stable and consistent revenue stream. This offers significant resilience against economic downturns. The portfolio's current below-market lease rates present a compelling opportunity for future rental income growth. A potential for increased returns is further supported by a pro-forma analysis indicating an 11% return on investment. Additionally, there is an opportunity to acquire an additional 10 properties currently undergoing rehabilitation, available "as is" or upon completion of the rental process
Location Insight
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Latitude
- 41.4691
- Longitude
- -81.743
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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