1005 Nela View RD, Cleveland Heights, OH 44112
1005 Nela View RD, Cleveland Heights, OH 44112
1005 Nela View RD, Cleveland Heights, OH 44112
1005 Nela View RD, Cleveland Heights, OH 44112
1005 Nela View RD, Cleveland Heights, OH 44112
1005 Nela View RD, Cleveland Heights, OH 44112
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Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 1,625,000
Est. payment | /mo

4,800 Sqft Lot

Save
$ 1,625,000
Est. payment | /mo
Save

4,800 Sqft Lot

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

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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1005 Nela View RD