Vision Sales Team

3224 W 32nd Street

Cleveland , OH 44109

MLS#: 5191124

$150,000

Status: Active
Listing number: 5191124
Listing provided by: Keller Williams Living
Listing agent phone: None
Last update: 2 days ago
New on site 4 days ago
Browse Properties
N & J Meyer - Residential Income

Property

Beds

5

Full Baths

2

1/2 Baths

None

Year Built

1880

Sq.Footage

1,700

Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland’s westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 3 occupied units and 7 units vacant or in turnover, creating an opportunity for experienced investors to renovate, lease-up, and increase rents across the portfolio. The unit mix consists of 2- and 3-bedroom units, with market rents in the surrounding areas supporting approximately $1,000–$1,200 per unit once renovated and stabilized. Estimated renovation scope across the portfolio is approximately $120,000, including one heavier project requiring mechanical replacement and exterior improvements, along with several lighter unit turns. Once stabilized, the portfolio has the potential to generate $120K+ in annual gross rental income, with projected portfolio value approaching $950K–$1M. The property will be sold as the a portfolio during the initial marketing period. Ideal opportunity for experienced investors or operators seeking a westside Cleveland value-add multifamily project. Detailed rent projections and property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695,000 for the entire portfolio. NO SELLER FINANCING.

Features & Amenities

Interior

  • Total Bedrooms

    5

  • Bathrooms

    2

  • Above Grade Finished Area

    1700.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Aluminum Siding

  • Parking

    Drive Through

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.163

  • Property Type

    Residential Income

  • Property Sub Type

    Duplex

Price

  • Sales Price

    $150,000

  • Tax Amount

    $1,645

  • Sq. Footage

    1, 700

  • Price/SqFt

    $88

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of Michael L Magno , Keller Williams Living

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Agent Austin Lape

AGENT

Austin Lape

Call Austin today to schedule a private showing.

(330) 808-6162

Austin@VisionSalesTeam.com


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Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland’s westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 3 occupied units and 7 units vacant or in turnover, creating an opportunity for experienced investors to renovate, lease-up, and increase rents across the portfolio. The unit mix consists of 2- and 3-bedroom units, with market rents in the surrounding areas supporting approximately $1,000–$1,200 per unit once renovated and stabilized. Estimated renovation scope across the portfolio is approximately $120,000, including one heavier project requiring mechanical replacement and exterior improvements, along with several lighter unit turns. Once stabilized, the portfolio has the potential to generate $120K+ in annual gross rental income, with projected portfolio value approaching $950K–$1M. The property will be sold as the a portfolio during the initial marketing period. Ideal opportunity for experienced investors or operators seeking a westside Cleveland value-add multifamily project. Detailed rent projections and property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695,000 for the entire portfolio. NO SELLER FINANCING.

3224 W 32nd Street

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