9
See all 9 photos
$1,625,000
Est. payment /mo
4,800 Sqft Lot
New
1005 Nela View RD Cleveland Heights, OH 44112
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Frst Hill Overlook
MLS Listing ID 5254224
HOA Y/N No
Year Built 1920
Annual Tax Amount $11,366
Tax Year 2025
Lot Size 4,800 Sqft
Acres 0.1102
Property Sub-Type Apartment
Property Description
Fully occupied 9-property residential rental portfolio! Offered at $1,625,000, this established portfolio generates $12,674 in gross monthly rental income ($152,088 annually), with an estimated stabilized Net Operating Income (NOI) of $118,668 and a 7.30% capitalization rate. Located throughout Cleveland, Cleveland Heights, Euclid, and East Cleveland, this portfolio provides multiple rental income streams, and immediate cash flow. Currently operating at 100% occupancy, all but one property have undergone renovations, reducing anticipated immediate capital improvement needs. The utility structure supports operating performance, with tenants responsible for all gas and electric expenses and tenants at two properties also paying water and sewer. NOI includes property taxes, estimated insurance, previous operating expenses and an annual repairs and maintenance reserve. This portfolio includes: 1569 E 256th St, Euclid; 1285 E 137th St, East Cleveland; 1511 E 248th St, Euclid; 1371 E 185th St, Cleveland; 1463 Babbitt Rd, Euclid; 16112 Greyton Rd, East Cleveland; 16118 Greyton Rd, East Cleveland; 1005 Nela View Rd, Cleveland Heights; and 1435 Clermont Rd, Cleveland. Ideal for investors seeking to expand their holdings with an established, cash-flowing rental portfolio offering immediate income and long-term investment potential. Properties are offered together as a portfolio. Call today for more details!
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Hts-Univer - 1810
Others
Tax ID 681-08-006
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Jesse R Kracht • Russell Real Estate Services • jessek.cst@gmail.com, 440-212-5656
GET MORE INFORMATION