Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Heating YN

    YES

  • Heating

    Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.57

  • Property Type

    Commercial Sale

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $695,000

  • Tax Amount

    $10,462

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    Yes

  • Association Fee 2

    $550

  • Association Fee Includes

    N/A

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of Michael L Magno , Keller Williams Living

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Austin Lape

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Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland’s westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. 7944 Lorain Ave, 3308 W 90th St, 3185 W 58th St, 3150 W 40th St, and 3324 W 32nd St. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 3 occupied units and 7 units vacant or in turnover, creating an opportunity for experienced investors to renovate, lease-up, and increase rents across the portfolio. The unit mix consists of 2- and 3-bedroom units, with market rents in the surrounding areas supporting approximately $1,000–$1,200 per unit once renovated and stabilized. Estimated renovation scope across the portfolio is approximately $120,000, including one heavier project requiring mechanical replacement and exterior improvements, along with several lighter unit turns. Once stabilized, the portfolio has the potential to generate $120K+ in annual gross rental income, with projected portfolio value approaching $950K–$1M. The property will be sold as the a portfolio during the initial marketing period. Ideal opportunity for experienced investors or operators seeking a westside Cleveland value-add multifamily project. Property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695k for the entire package.

7944 Lorain Avenue

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