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31785696
31785695

2 Locations

DL
OH SAL.2015004836
Cushman & Wakefield CRESCO Real Estate
JL
OH SAL.0000426191
Cushman & Wakefield CRESCO Real Estate
Listed by Cushman & Wakefield CRESCO Real Estate
$900,000
43 days on market
Updated 43 days ago
Opportunity zone

Murray Hill Apartment Portfolio

Details
APN 121-12-023; 121-04-086; 12-112-023
Property Type Multifamily
Sub Type Apartment Building
Units 9
Occupancy 100%
Year Built 1900
Buildings 2
Stories 2
Parking Spaces 6 spaces
Investment Type Value Add

Multifamily | 9 Units

Marketing description

Located at 2051 Murray Hill Road and 2224 Murray Hill Road, this two-property apartment portfolio in Cleveland’s Little Italy offers a rare opportunity to acquire a well-maintained multifamily investment in one of the city’s most desirable neighborhoods. The portfolio features nine units across two buildings (one four-unit and one five-unit), all of which are currently 100% occupied with below-market rents—presenting an immediate value-add opportunity for savvy investors. Its prime location ensures exceptional walkability, just steps away from Little Italy’s restaurants, shopping, and cultural attractions, as well as close proximity to University Circle and Case Western Reserve University. This high-demand rental market experiences nearly zero vacancy, attracting a steady stream of students, professionals, and long-term tenants. With no major deferred maintenance, both buildings require only cosmetic updates to capture full market rents, making this an appealing prospect for those seeking steady income and long-term appreciation.

Investment highlights

  • 2-Property Apartment Portfolio in Little Italy, Cleveland: Special opportunity to acquire a well-maintained multifamily portfolio in one of Cleveland’s most sought-after neighborhoods.
  • 9 Units Across Two Buildings: Includes a 4-unit and a 5-unit building, offering a balanced mix of rental income potential.
  • 100% Occupied with Below-Market Rents: Immediate value-add opportunity for investors to increase cash flow by adjusting rents to market rates.
  • Prime Location & Walkability: Steps from Little Italy’s restaurants, shopping, and cultural attractions, with close proximity to University Circle and Case Western Reserve University.
  • High-Demand Rental Market: Nearly 0% vacancy rate in the area, ensuring steady demand from students, professionals, and long-term tenants.
  • No Major Deferred Maintenance: Both buildings are well-maintained, minimizing upfront capital expenditures other than unit cosmetic improvements to capture market rent
  • Parking
  • 2224 Murray Hill Rd
  • Six (6) Surface Spaces & Street Parking
  • 2051 Murray Hill Rd
  • Street Parking

Listing Contacts

DL
OH SAL.2015004836
Cushman & Wakefield CRESCO Real Estate
JL
OH SAL.0000426191
Cushman & Wakefield CRESCO Real Estate
Listed by Cushman & Wakefield CRESCO Real Estate

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