4-Unit on CLE's West Side
Value-Add | 12.5% Proforma CAP
Marketing description
Four-unit investment property on Cleveland's west side offered at just $49,750/door, currently generating $17,815 in annual NOI at an 8.95% cap rate. Three of the four units are now occupied, including the basement unit recently leased at $700/month, leaving just the top unit to fill and meaningful upside as it leases. Built in 1910, this well-constructed multi-family sits in the 44102 zip code with easy access to I-90, I-71, and I-480, making it a consistently rentable location for Cleveland's west-side workforce. The proforma tells the better story: fully leased at market rents, NOI climbs to $24,900 and the cap rate reaches 12.51%. Go-and-show for qualified buyers.
Investment highlights
4-Unit Multi | Perfect for value-add investors
Significant upside from under-market rents
Projected gross annual income - $43,800
Located on Cleveland’s sought-after west side, a proven rental market with steady demand and reliable cash flow
Separate gas & electric meters for three units—owner only pays utilities for basement unit
Month-to-month leases in two of the units allow flexibility for rent increases or renovations to quickly align with market-rate returns
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