Vision Sales Team

1471 E 118th Street

Cleveland, OH 44106

MLS#: 5212544

$499,900

Status: Active
Listing number: 5212544
Listing provided by: Premier Heights Realty LLC
Listing agent phone: None
Last update: 4 days ago
On site: 5 days ago
Browse Properties
College Park 02/T A Mccaslin - Residential Income

Property

Beds

10

Full Baths

4

1/2 Baths

None

Year Built

1910

Sq.Footage

0

FULLY OCCUPIED 10 bedroom duplex in the heart of the thriving University Circle area!! This high performing duplex currently generates almost $65K in annual GROSS INCOME and over $55K in NET INCOME  yielding a 11.12% CAP RATE (details available upon request).  With strong cash flow and a premium location that is within minutes to CWRU (CWRU Safe Ride stop is only a few houses away), and convenient to University Hospitals, Cleveland Clinic, VA and Cleveland Institute of Music in an area that is GROWING in demand, this remodeled duplex is the perfect addition to any portfolio. The FURNISHED right side of duplex is currently fully leased by the room to students through August 15, 2026, generating $3130/mo. in rent.  The left-side duplex 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 $2269/mo. with the tenant responsible for only $81/mo. There is also potential for a CMHA rent increase this November, adding more upside to this already strong-performing asset. Extensive capital investments ensure low-maintenance ownership in future: new roof (2024), new hot water heater on left side (2025), right side gutted and remodeled – new everything – bathrooms, kitchen, floors, walls, appliances, lighting and fixtures (2024), entire front porch rebuilt (2026), landscaping renovation (2026), left side gut renovated (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.  Don’t miss out on this perfect blend of guaranteed, recession-proof CMHA income and the premium pricing power of furnished student housing! Property will transfer with a valid Lead Safe Certificate.

Features & Amenities

Interior

  • Total Bedrooms

    10

  • Bathrooms

    4

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s), Window Unit(s)

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Wood Siding

  • Parking

    None, Off Street

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.0983

  • Property Type

    Residential Income

  • Property Sub Type

    Duplex

Price

  • Sales Price

    $499,900

  • Tax Amount

    $4,039

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    3

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of Jullian Vaughn , Premier Heights Realty LLC

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Agent Austin Lape

AGENT

Austin Lape

Call Austin today to schedule a private showing.

(330) 808-6162

Austin@VisionSalesTeam.com


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FULLY OCCUPIED 10 bedroom duplex in the heart of the thriving University Circle area!! This high performing duplex currently generates almost $65K in annual GROSS INCOME and over $55K in NET INCOME  yielding a 11.12% CAP RATE (details available upon request).  With strong cash flow and a premium location that is within minutes to CWRU (CWRU Safe Ride stop is only a few houses away), and convenient to University Hospitals, Cleveland Clinic, VA and Cleveland Institute of Music in an area that is GROWING in demand, this remodeled duplex is the perfect addition to any portfolio. The FURNISHED right side of duplex is currently fully leased by the room to students through August 15, 2026, generating $3130/mo. in rent.  The left-side duplex 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 $2269/mo. with the tenant responsible for only $81/mo. There is also potential for a CMHA rent increase this November, adding more upside to this already strong-performing asset. Extensive capital investments ensure low-maintenance ownership in future: new roof (2024), new hot water heater on left side (2025), right side gutted and remodeled – new everything – bathrooms, kitchen, floors, walls, appliances, lighting and fixtures (2024), entire front porch rebuilt (2026), landscaping renovation (2026), left side gut renovated (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.  Don’t miss out on this perfect blend of guaranteed, recession-proof CMHA income and the premium pricing power of furnished student housing! Property will transfer with a valid Lead Safe Certificate.

1471 E 118th Street

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