3848 E 186th Street, Cleveland, OH 44122

Property Description

Fantastic opportunity for investors to acquire a 5-property SFR portfolio in the highly desirable 44122 and 44128 zip codes. Four of these properties are currently occupied, generating a total of $4,207 per month in gross rental income. The fifth property is vacant and requires some cosmetic updates to become rent-ready. The owner currently covers water and sewer expenses for the entire portfolio. With a proforma portfolio rent of approximately $7,000 per month, this deal presents a potential future cap rate of 12%! The properties are located in close proximity to each other, facilitating a smooth and efficient takeover process and easy management. Notably, the property at 4416 E 154th is subsidized, while the remaining properties are market rate, offering an ideal opportunity to transform this portfolio into a hands-off, cash-flowing Section 8 investment. Very straightforward and a great pick-up for any investor!