10628 LEE AVE Cleveland OH 44106-1229

One-of-a-kind investment opportunity to acquire a massive side-by-side duplex, fully remodeled in 2021 and benefiting from a 15-year tax abatement (about 11 years remaining). Each spacious unit offers four bedrooms and two and a half baths, and the property comes fully furnished and beautifully decorated. Currently leased to a tenant operating as an Airbnb arbitrage and leased for $5,000 per month with the tenant covering all utilities except water, this property provides an impressive as-is cap rate of over 8%. There’s significant upside potential with the ability to raise rents or operate directly as a short-term rental, pushing returns above a 10% cap rate with strong double digit cash on cash returns. You can also just move into a masterfully renovated unit and lease the second or airbnb it to pay for your mortgage! So many options with this gem. Just steps from the Cleveland Clinic main campus, University Circle, Little Italy, restaurants, shopping, and so much more, this is truly a prime location and a rare chance to acquire a fully turnkey, income-producing property in the heart of it all.

Turnkey side-by-side duplex w/ high-end finishes

15-year tax abatement - approx. 11 years remaining

Current rental income - $5,000/month

Current CAP - 8.77%

Proforma rental income - $7,000/month

2 units - 4 beds & 2.5 baths each

Fully furnished / stylishly decorated

Prime location – steps from Cleveland Clinic, University Circle & Little Italy