7944 Lorain AVE, Cleveland, OH 44102
7944 Lorain AVE, Cleveland, OH 44102
7944 Lorain AVE, Cleveland, OH 44102
43
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$170,000
Est. payment /mo
Save
4 Beds
2 Baths
2,548 SqFt
Hold

7944 Lorain AVE Cleveland, OH 44102

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Lindsey Rose

Lindsey Rose

+1(330) 591-0823

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Duplex

Listing Status Hold

Purchase Type For Sale

Square Footage 2,548 sqft

Price per Sqft $66

Subdivision James M Hoyts Allotment

MLS Listing ID 5191122

Bedrooms 4

Full Baths 2

HOA Y/N No

Abv Grd Liv Area 2,548

Total Fin. Sqft 2548

Year Built 1905

Annual Tax Amount $2,222

Tax Year 2024

Lot Size 4,621 Sqft

Acres 0.1061

Property Sub-Type Duplex

Property Description

Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland's westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 4 occupied units and 6 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–$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+ in annual gross rental income, with projected portfolio value approaching $950K–$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.
Detailed rent projections and property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. NO SELLER FINANCING.

Location

State OH

County Cuyahoga

Rooms

Basement Full

Interior

Heating Forced Air

Cooling None

Fireplace No

Exterior

Parking Features Driveway

Garage Spaces 3.0

Garage Description 3.0

Water Access Desc Public

Roof Type Asphalt

Garage true

Private Pool No

Building

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 006-06-065

Acceptable Financing Cash, 1031 Exchange

Listing Terms Cash, 1031 Exchange

VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now
Listed by Michael L Magno • Keller Williams Living • michael@themagnogroup.com, 216-236-8849
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Lindsey Rose

Lindsey Rose

Realtor® | CEO | Team Lead | License ID: 2017001928

+1(330) 591-0823

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7944 Lorain AVE