1471 East 118th Street, Cleveland, OH 44106 For Sale

FULLY occupied 10-bedroom duplex in the heart of the thriving University Circle area!! This high-performing duplex is currently generating approximately $65K annually in GRI. With relatively low maintenance and monthly expenses, and no repair load, this property provides over $55K in NET INCOME (details available upon request). With strong cash flow and a location that is within minutes of CWRU and both the VA and University Hospitals in an area that is only GROWING in demand, this remodeled duplex is the perfect addition to anyone's portfolio. (please note that it is located a few houses away from where CWRU's Safe Ride Program stops) The FURNISHED Right-side is currently fully leased by the room to students through August 15, 2026. All five bedrooms are rented individually, generating $3,130 per month, with tenants paying ALL utilities, including water and sewer. The Left-side features the same spacious 5-bedroom, 2-bath layout and is occupied by a great, long-term CMHA-assisted family that has been in place for 8 years. The Left-side unit currently generates $2,269 per month ($2188 from CMHA + $81 from tenant). Tenant pays all utilities except water and sewer. There is also potential for a CMHA rent increase this November, adding even more upside to this already strong-performing asset. Other features: new roof (2024); new hot water tank in Left Side (2025); Right Side gutted and remodeled (2024); Left Side remodeled (2017). This is a standout opportunity for investors seeking IMMEDIATE cash flow, strong rental history, and long-term appreciation potential in one of Cleveland’s hottest rental areas. Property will transfer with a valid Lead Safe Certificate.