Gifford-Natchez Turn Key Duplex Portfolio
100% Leased - Immediate Cashflow
Marketing description
Turnkey, fully occupied duplex portfolio featuring two exceptionally clean and extensively improved properties located in established west-side Cleveland neighborhoods. The portfolio includes 4621 Gifford Avenue and 2802 Natchez Avenue, providing four occupied units and approximately $4,350 in current monthly rental income.
These are not typical deferred-maintenance investment properties. Both buildings have been carefully maintained and comprehensively improved, with major components, finishes and mechanical items updated or replaced as needed. The properties show extremely well, offer attractive unit layouts and are occupied by established tenants providing dependable, stable cash flow from day one.
The portfolio is positioned for an investor seeking quality, consistency and long-term performance rather than a heavy renovation project. Old Brooklyn continues to be one of Cleveland’s most established and consistently performing west-side neighborhoods, supported by strong surrounding housing stock, convenient access to downtown, major highways, shopping, employment and neighborhood amenities.
Offered together at $485,000, with individual asking prices of $225,000 for Gifford and $260,000 for Natchez. Additional properties from the same ownership group may also be available, creating an opportunity to assemble a larger stabilized Cleveland rental portfolio.
Investment highlights
Portfolio Financial Recap
4621 Gifford Avenue — Asking $225,000
- 2-unit duplex; 100% occupied
- Down unit: 2 bed / 1 bath — $1,100/month
- Up unit: 2 bed / 1 bath — $1,050/month
- Total in-place rent: $2,150/month
- Annual scheduled gross rent: $25,800
- 2025 reported total operating income: $31,655.63
- 2025 reported operating expenses: $6,723.10
- Reported NOI: $24,932.53
- Gross rent yield on asking price: approximately 11.5%
- Reported NOI cap rate on asking price: approximately 11.1%
- Owner-paid utilities reflected in statement:
- Water: $1,526.69 annually
- Sewer: $2,484.28 annually
- Total water/sewer: $4,010.97 annually, or approximately $334/month
2802 Natchez Avenue — Asking $260,000
- 2-unit duplex; 100% occupied
- Back unit: 2 bed / 1 bath — $1,050/month
- Front unit: 3 bed / 1 bath — $1,150/month
- Total in-place rent: $2,200/month
- Annual scheduled gross rent: $26,400
- Current indicated market rent: approximately $2,250/month, or $27,000 annually
- 2025 reported total operating income: $23,575
- 2025 reported operating expenses: $4,002.08
- Reported NOI: $19,572.92
- Gross rent yield on asking price: approximately 10.2%
- Reported NOI cap rate on asking price: approximately 7.5%
- Owner-paid utilities reflected in statement:
- Water: $776.31 annually
- Gas: $133.35 annually
- Total listed utilities: $909.66 annually, or approximately $76/month
Combined Portfolio — Asking $485,000
- 4 total units; currently 100% occupied
- Current monthly rent: $4,350
- Annual scheduled gross rent: $52,200
- Combined reported operating income: $55,230.63
- Combined reported NOI: $44,505.45
- Combined gross rent yield: approximately 10.8%
- Combined reported NOI cap rate: approximately 9.2%
- Combined listed utilities: approximately $4,920.63 annually
The income statements include certain irregular collections, reimbursements and timing differences, so buyers should independently verify and normalize income and expenses during due diligence.
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