Parma Ohio Homes for Sale

Ridgewood 03 Homes for Sale - Parma, Ohio

$1,180,000
5148371 MLS
This 7-property, 8-unit single-family portfolio is located across some of Northeast Ohio’s most desirable suburbs, including Parma, North Olmsted, Brook Park, South Euclid, and University Heights. Fully occupied and generating $12,074/month in rent, the current NOI is $79,649 with a pro forma NOI of $104,356, supporting a cap rate of 6.53% as-is and 9.20% pro forma. Pro forma cash-on-cash return is 23%, with over $25K in annual rent upside. Tenants pay all utilities, except water/sewer in the duplex. Estimated ARV is $1.74M, backed by strong neighborhood comps averaging $143K per home, offering over $500K in potential equity when resold individually to homeowners. Recent capital improvements include three new hot water tanks, a new furnace, a $12K rent-ready renovation at 8213 Ivandale, and a $7K shower upgrade at Raymont. CapEx accounts for over 50% of reported repair costs, allowing immediate expense reduction under new management. Properties are located in high-demand zip codes with fast-moving resale markets, proven homeowner demand, and long-term appreciation. Property breakdown includes: 8213 Ivandale, Parma – 4 bed / 2 bath, 1,910 sq ft (ARV $243K); 1474-76 Sherbrook, South Euclid – 7 bed / 3 bath duplex, 3,555 sq ft (ARV $250K); 3852 Grosvenor, South Euclid – 3 bed / 1 bath, 1,589 sq ft (ARV $170K); 4647 Sellhurst, North Olmsted – 3 bed / 1 bath, 1,237 sq ft (ARV $300K); 6113 Michael, Brook Park – 3 bed / 2 bath, 1,036 sq ft (ARV $250K); 3901 Warrendale, South Euclid – 4 bed / 2 bath, 1,598 sq ft (ARV $250K); and 3582 Raymont, University Heights – 4 bed / 2.5 bath, 1,728 sq ft (ARV $275K). Rent roll and financials included in the due diligence package attaches. No showings until accepted offer. Seller has two additional portfolios and two single-family homes available. Inquire for bulk pricing or multi-portfolio opportunities. This is a clean, stable portfolio with location, income, equity, and multiple exit strategies.

8213 Ivandale Drive, Parma

Listing Courtesy of: Erin Thomas, Erinthomas@kwcommercial.com With Keller Williams Living

Selling Office: EXP Realty, LLC..

$224,900
3 Beds 3 Baths 5068985 MLS
New furnace installed October 2024. This beautiful home is located in the heart of Parma Circle. You'll see an open-floor concept home with a spacious living room with new paint and vinyl flooring. A gorgeous all-new upgraded eat-in kitchen with brand new cabinets, stainless steel appliances, and quartz countertops. The two first-level bedrooms have new carpet. Newly re-designed and renovated main floor bathroom. Upstairs has a massive main bedroom with luxury vinyl flooring and a newly built ensuite full bathroom. The basement is partially finished with laundry hookups (also in the first-floor mudroom), and plenty of storage space. The home features a 1.5 car detached garage has an opener and remote control. The home features a hardwired alarm system with remote window and door sensors. The yard has an invisible fence system for your four-legged friend. Newly built 6-foot-wide rear door porch for easy and comfortable access to the garage. The front facade has been updated with fresh landscaping and painted accents. The central air and heating systems were fully serviced on September 4, 2024. Additional updates include newer windows (2016), hot water tank (2020), and gutters (2018). Conveniently located to restaurants, shopping, and freeway access. Enjoy this neighborhood while still being close to amenities, schools, parks, and downtown.

7606 Wainstead Drive, Parma

Listing Courtesy of: Leigh M Conti, akronrealtor2@gmail.com With Kremer Realty Inc.

Selling Office: Keller Williams Citywide.

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Ridgewood 03 Homes for Sale - Parma, Ohio

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