2883 E 114th Street, Cleveland, OH 44104

$2,055,000
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Sold Price
$2,055,000
List Price
$2,250,000
Status
CLOSED
MLS#
5165403
Year Built
1926
Closing Date
Feb 24, 2026
Region
Cleveland
Township
Cleveland
Subdivision / Building
Harvey Rice Jr S Sub
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(440) 539-6347

Property Description

Extremely rare opportunity to acquire a fully cash-flowing, stabilized 39-unit portfolio across 13 properties in the Cleveland market. Located in strong submarkets known for steady demand and appreciation. Currently ~90% occupied, with four units in lease-up to subsidized tenants—expected to be fully leased by closing. Includes 26 Section 8 tenants providing reliable, government-backed income. All gas/electric paid by tenants; owner covers only water/sewer. Professional management in place for seamless transition. Once fully occupied, projected 10%+ CAP, with upside to 13%+ CAP / 20%+ cash-on-cash through rent alignment. Turnkey Cleveland portfolio delivering immediate income and long-term growth.

(440) 539-6347
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Additional Information

Taxes
$22,640
Acres
1.55
Sewer
Public Sewer
Water
Public
Heating
Forced Air
School District
Cleveland Municipal - 1809
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Listing Courtesy of: Tal Tamir, tal@premierclevelandinvesting.com With Russell Real Estate Services

Selling Office: Russell Real Estate Services.

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