3241 E 116th Street, Cleveland, OH 44120

Property Description

Excellent turnkey investment opportunity for an investor looking to add a strong, income-producing property to their portfolio! This spacious single-family home offers 5 bedrooms and 1 bathroom, providing a desirable layout with plenty of room for comfortable everyday living. The interior has been refreshed with fresh paint and new luxury vinyl plank flooring throughout, creating a clean, modern, and low-maintenance finish. The large updated kitchen is a standout feature, offering new cabinetry, butcher block countertops, stainless steel appliances, and ample workspace and storage. The bathroom has also been thoughtfully renovated with new tile flooring, a tiled tub surround, new vanity, and updated fixtures and accessories, giving the home a fresh and contemporary feel. From an investment standpoint, the property is positioned to provide immediate cash flow. A tenant is scheduled to move in on September 9, 2026 under a one-year lease at $1,700 per month, allowing the new owner to benefit from established rental income. Conveniently located in Cleveland, the property is just minutes from Luke Easter Park, Ludlow Early Learning Center, Fernway Elementary School, Batuqui Brazilian Restaurant, and Select Specialty Hospital – Cleveland Fairhill, and easy access to major roads, public transportation, shopping, schools, parks, restaurants, healthcare facilities, and other everyday amenities. The property also presents a future Section 8 opportunity, with a CMHA rent standard of approximately $2,150. Full-service property management is available, including dedicated leasing, marketing, and tenant communication departments, along with rehab and construction services for remote investors. With its spacious layout, recent updates, and incoming tenant already secured, this property presents an attractive opportunity for investors seeking a turnkey rental with immediate income potential and long-term value! No wholesalers, seller financing, or low-ball offers.