Five-Building Multifamily
For Sale
$525,000
9620 Fuller Avenue, Cleveland, OH 44104
Portfolio includes five multifamily buildings with 18 units across studio through 5-bedroom layouts.
Property Size6,628 SF
Price / SF$79.21
Days on Market140
Property Features for 9620 Fuller Avenue
General Information
Standard status
Active
Size
6,628 SF
Property subtype
Apartment
Additional Details
Cap Rate
-2.9%
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$8,089
Amenities
3
Building Details
Year Built
1910
Listing Agency:
(440) 318-1620
Listed By:
Keller Williams Living
(440) 670-2300
Source:
Xome
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 9 at 6:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Living
Investment Insights
Based on property information with market context.
This portfolio offers five multifamily buildings totaling 18 residential units, with a unit mix that includes studios, 1-bedroom, 2-bedroom, 3-bedroom, and one 5-bedroom unit. Current occupancy is limited, with only three units occupied, and current gross income of $23,400 per year. The portfolio is presented with below-market current rents, with varying levels of renovation and lease-up needed across the properties.
Addressing is at 9620 Fuller Ave in Cleveland, OH. The offering is structured as a package acquisition, with the ability to purchase properties individually.
In the provided materials, the proforma projects annual gross rental revenue of $211,800 and a stabilized NOI of $147,898, reflecting expected normalization of expenses from $36,544 to $53,312 at stabilization. The current NOI is reported as negative, and the proforma indicates a substantially higher cap rate once stabilized.
Addressing is at 9620 Fuller Ave in Cleveland, OH. The offering is structured as a package acquisition, with the ability to purchase properties individually.
In the provided materials, the proforma projects annual gross rental revenue of $211,800 and a stabilized NOI of $147,898, reflecting expected normalization of expenses from $36,544 to $53,312 at stabilization. The current NOI is reported as negative, and the proforma indicates a substantially higher cap rate once stabilized.
Key Highlights
- Portfolio of five multifamily buildings totaling 18 units with studio through 5‑bedroom layouts
- Asking price $450,000 ($25,000 per unit; $67.89 per sq ft per provided info)
- Current income $1,950/month (only 3 units occupied) with present cap rate of -2.9%
Property Analytics
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Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 44104, OH
20,202
Population
9,851
Households
2.1
Avg Household Size
31
Median Age
10%
College-Educated
81%
High-School Grad
4.7 sq mi
ZIP Area
4,298
Density / Sq Mi
$24,009
Median Household Income
$25,679
Median Earnings
$654
Median Rent
$60,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio includes five multifamily buildings with 18 units across studio through 5-bedroom layouts.
Where is this apartment building located?
The property is located at 9620 Fuller Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Portfolio of five multifamily buildings totaling 18 units with studio through 5‑bedroom layouts; Asking price $450,000 ($25,000 per unit; $67.89 per sq ft per provided info); Current income $1,950/month (only 3 units occupied) with present cap rate of -2.9%
