9715 Loretta Avenue, Cleveland, OH 44102 For Sale

15-Unit Fully Rebuilt Multifamily Portfolio

Rare opportunity to acquire two comprehensively renovated multifamily properties totaling 15 units in one coordinated Cleveland portfolio. Both buildings have undergone extensive gut renovations, providing investors with the operational scale of a larger acquisition without inheriting the deferred maintenance, outdated systems and near-term capital exposure typically associated with older Cleveland apartment assets.

Complete Gut Renovation Across Both Properties

The renovation program extended well beyond cosmetic improvements. Major building systems and interior components have been replaced or substantially rebuilt, including:

• Brand-new roofs
• Brand-new window packages
• New heating systems
• New plumbing and plumbing supply lines
• New electrical systems and electrical lines
• New electrical subpanels serving every apartment
• New flooring throughout the units
• Renovated kitchens and bathrooms
• Updated interior finishes, lighting and fixtures
• Improved parking areas
• Additional land included with the portfolio

This is not a buyer inheriting somebody else’s unfinished construction project. The significant capital investment has already been made.

Buy the Renovation—Not the Renovation Risk

Most value-add multifamily opportunities require a buyer to spend years replacing roofs, windows, mechanical systems, electrical infrastructure and plumbing while managing construction around occupied units. This portfolio offers the opposite proposition: acquire the buildings after the expensive, disruptive and unpredictable rehabilitation work has already been completed.

The buyer receives newer building systems, improved operating reliability and significantly reduced near-term capital exposure while retaining the opportunity to increase rents and grow NOI.

Replacement-Cost Advantage

Recreating two fully renovated multifamily properties today would require substantial acquisition, construction, permitting, labor and carrying costs. The portfolio offers an opportunity to purchase completed physical improvements at a basis that may be difficult to replicate through new construction or a comparable gut-renovation strategy.

15 Units of Immediate Operational Scale

The combined offering provides substantially more scale than either property would offer independently:

• Two multifamily buildings
• Fifteen total apartments
• Diversified rental income
• Predominantly two-bedroom unit mix
• Multiple sources of monthly cash flow
• Greater operating efficiency than a scattered collection of duplexes or fourplexes
• A larger and more financeable portfolio profile

Strong Mark-to-Market Rent Potential

Despite the scope of the renovations, existing rents remain below the levels achievable for clean, updated apartments in the surrounding market. This creates the unusual combination investors seek: new physical condition with older in-place rents.

The buyer has a clear path to value creation through continued leasing, renewal increases and progressive rent repositioning—without first completing a major capital-improvement program.

Additional Land and Parking

The portfolio includes additional land and improved parking, enhancing tenant convenience, operational flexibility and long-term value. Off-street parking is an important competitive advantage for west-side Cleveland multifamily properties and further distinguishes the offering from nearby buildings with limited exterior functionality.

Reduced Deferred-Maintenance Exposure

New roofs, windows, heating, plumbing, electrical infrastructure and unit subpanels materially reduce the likelihood of major near-term replacement projects. This allows ownership to focus capital and management resources on leasing, rent growth and operations rather than emergency repairs and large-scale building rehabilitation.

A Rare Cleveland Investment Profile

This portfolio combines features that are rarely available together:

15-unit scale + two fully gut-renovated buildings + new major systems + additional land + parking + immediate income + mark-to-market rent upside.

The investment thesis is simple: acquire completed renovations, preserve the existing income and grow NOI as rents move toward market.

Rare opportunity to acquire a fully rebuilt 15-unit Cleveland multifamily portfolio consisting of two extensively renovated apartment properties offered as one coordinated investment. Both buildings have undergone comprehensive gut renovations extending from the roofs and windows through the heating, plumbing, electrical infrastructure and individual apartment interiors. New electrical lines, new plumbing lines, new unit subpanels, new flooring, updated kitchens and bathrooms, improved parking and additional land provide investors with a substantially modernized physical asset and reduced near-term capital exposure. Unlike the typical Cleveland value-add acquisition, the expensive and disruptive rehabilitation work has already been completed. Ownership can focus on leasing, operating efficiency and progressive rent growth rather than managing major construction projects or replacing aging building systems. Existing rents remain below the levels achievable for clean, renovated apartments in the surrounding market, creating a compelling opportunity to acquire newer physical condition while retaining meaningful mark-to-market income upside.

The combined portfolio provides 15 units of operating scale, diversified rental income and greater efficiency than acquiring multiple smaller properties individually. New major systems, a desirable unit mix, additional land and off-street parking create a strong foundation for long-term ownership, while below-market rents provide a clear path to increased NOI and future value. This is an opportunity to buy the completed renovation—not the renovation risk.

DISCLAIMER: This marketing material has been prepared by Russell Commercial Advisory (“RCA”), Russell Real Estate Services, and Justin Campbell solely for general informational and marketing purposes. Certain photographs, renderings, landscaping, lighting, skies, building features, finishes, site conditions, or surrounding elements may have been digitally enhanced, altered, staged, generated, or otherwise modified for illustrative purposes and may not accurately depict the property’s current or future condition.

No warranty or representation, express or implied, is made regarding the accuracy, completeness, reliability, or future performance of any photograph, rendering, property description, comparable sale, rental rate, projected income, expense, valuation, renovation concept, investment return, zoning classification, square footage, condition, or other information presented herein. Information has been obtained from sources believed to be reliable, including owners, public records, MLS data, and third parties, but has not been independently verified and is subject to errors, omissions, prior sale, changes in price or terms, withdrawal from the market without notice, and any special conditions imposed by the property owner.

Any investment analysis, comparable-sale discussion, rental projection, renovation scenario, or potential resale value is illustrative only and does not constitute an appraisal, guarantee of value, financial advice, tax advice, legal advice, construction estimate, or assurance of future income or investment performance. RCA, Russell Real Estate Services, Justin Campbell, and their respective agents and representatives have not conducted engineering, environmental, structural, zoning, code-compliance, title, survey, or property-condition investigations unless expressly stated in writing.

Prospective purchasers and investors must independently verify all information and conduct their own inspections, due diligence, financial analysis, and consultation with appropriate legal, tax, lending, appraisal, architectural, engineering, zoning, insurance, and construction professionals before making any decision. The property is offered subject to its actual condition, applicable contracts, governmental requirements, and the owner’s final approval. All dimensions, rents, expenses, values, projections, renovation plans, and investment outcomes are estimates only and are not guaranteed.

Ohio advertising materials should display the licensed brokerage name at least as prominently as the salesperson’s name, so the final layout should keep Russell Real Estate Services equal to or more prominent than Justin Campbell.