7944 Lorain Avenue | Cleveland
Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland\u2019s 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\u2013$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\u002B in annual gross rental income, with projected portfolio value approaching $950K\u2013$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 \u0026 5191117 \u0026 5191122 \u0026 5191124 \u0026 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695k for the entire package. MLSNow 5192072 Directions to property: 7944 Lorain Ave, 3185 W 58th, 3308 W 90th, 3324 W 32nd, 3150 W 40th.
Information deemed reliable but not guaranteed. Zid Realty & Associates is a member of the National Association of REALTORS® Equal Housing Opportunity