6601 Ridgeview RD, Mayfield Heights, OH 44124
6601 Ridgeview RD, Mayfield Heights, OH 44124
6601 Ridgeview RD, Mayfield Heights, OH 44124
6601 Ridgeview RD, Mayfield Heights, OH 44124
6601 Ridgeview RD, Mayfield Heights, OH 44124
6601 Ridgeview RD, Mayfield Heights, OH 44124
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Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 3,200,000
Est. payment | /mo

6,960 Sqft Lot

Save
$ 3,200,000
Est. payment | /mo
Save

6,960 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Dwight J Walker Allotment

MLS Listing ID 5222686

HOA Y/N No

Year Built 1950

Annual Tax Amount $60,098

Tax Year 2025

Lot Size 6,960 Sqft

Acres 0.1598

Property Sub-Type Apartment

Property Description

***Recent appraisals available upon request on majority of properties***Turnkey 16-property single-family rental portfolio across highly desirable Cleveland East suburbs including South Euclid, Cleveland Heights, Lyndhurst, Mayfield Heights, and Cleveland. Offered as a package at $3,200,000. This stabilized portfolio includes 16 individual single-family homes with established rental history, strong tenant demand, and immediate cash flow from day one. Current rent roll reflects approximately $33,685/month in scheduled rental income ($404,220 annually). Based on provided income and property taxes, the portfolio produces approximately $344,121 NOI, representing an attractive 10.75% cap rate at the asking price (buyer to verify all expenses and financials). Many properties feature updates, desirable layouts, and tenant-friendly amenities including updated finishes, and central air at many locations. These homes are strategically located near major employment centers, shopping, dining, parks, schools and transportation, making them ideal long-term rental assets.
Portfolio Highlights:
• 16 Single-Family Rental Homes
• $33,685/month rental income
• $404,220 gross annual income
• Approx. 10.75% cap rate based on provided rent roll
• Stabilized tenant base
• Renovated and income-producing assets
• Strong Cleveland suburban rental markets
• Excellent opportunity for investors seeking scale and diversification
Included properties:
6601 Ridgeview Rd Mayfield Heights; 4011 Lancaster Rd South Euclid; 7220 Deveny Ave Cleveland; 1171 Quilliams Rd Cleveland Hts; 956 Nobleshire Rd Cleveland Hts; 857 Quarry Dr Cleveland Hts; 4033 Stonehaven Rd South Euclid; 4241 Verona Rd South Euclid; 1513 Westdale Rd South Euclid; 4187 Stilmore Rd South Euclid; 4218 Stilmore Rd South Euclid; 4198 Eastway Rd South Euclid; 1799 Wrenford Rd South Euclid; 4349 Ardmore Rd South Euclid; 4847 Farnhurst Rd Lyndhurst; 1509 Maple Rd Cleveland Hts.
Call today for additional details!

Location

State OH

County Cuyahoga

Interior

Heating Forced Air

Fireplace No

Exterior

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Present Use Multi-Family

Building

Story 1

Sewer Public Sewer

Water Public

Level or Stories One

Schools

School District Mayfield Csd - 1819

Others

Tax ID 862-35-028

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Jesse R Kracht • Russell Real Estate Services • jessek.cst@gmail.com, 440-212-5656

NEARBY SCHOOLS & PROPERTIES

Shawana Hanson

"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."

+1(216) 971-3161

info@luxehauscle.com

1991 Crocker Rd. Suite 600, Westlake, OH 44145, United States

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6601 Ridgeview RD