3589 Cedarbrook RoadCleveland Heights, OH 44118

Property Description

This is a portfolio built for the investor who understands that the best deals are bought, not found. Ten single-family homes across three of the strongest inner-ring east-side suburbs, priced as a package at $1,840,000 against an aggregate individual-unit comp value of $2.3M to $2.4M. That is roughly $464,000 of instant equity sitting on the closing table, plus the optionality to piece the portfolio off one house at a time as leases turn. Entry and location are the play. Cash flow is the bonus. The portfolio is 7 homes in Cleveland Heights, 1 in University Heights, and 2 in Richmond Heights, all 3BR/1.5BA or 4BR/1.5BA. Most have been renovated and are occupied by long-term tenants, with 8 of 10 on leases running through mid-2026 into 2027 and 2 on month-to-month. Current gross rent is $182,100 annually after recent increases, against market rent of $215,100. That is roughly 18% organic upside as leases roll, with zero vacancy today. Location is what makes this portfolio different from a scattered-site buy. Cleveland Heights gives you Cedar-Lee, Coventry, and a school district that trades to owner-occupants at full retail. University Heights sits on the John Carroll and Cedar Center corridor. Richmond Heights benefits from Town Square redevelopment and I-271 access. These are retail-grade zip codes, which is the entire reason the sell-off strategy works. You are not trying to wholesale out of rough areas. You are unwinding into a market that actively bids for your product. The numbers: $1,840,000 ask / $184,000 per door / 6.4% current cap / 7.4% proforma cap / $117k+ current NOI / $135k+ proforma NOI / 100% occupancy / $182,100 in-place gross rent / $218,700 market rent. Point of sale has been ordered. Inspections are scheduled over the next week. Please note: No Seller Financing available.

Property Features

Local Schools