Property Details for 10310 Adelaide Ave

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a portfolio of ten stabilized, Class C multifamily properties totaling 25 units in Cleveland, Ohio. Located across various addresses within Cuyahoga County, these properties boast a 96% occupancy rate and offer a compelling 8.50% cap rate at an asking price of $2,350,000 ($94,000 per unit). Each unit has undergone recent renovations, including updated kitchens and bathrooms, fresh paint, and new flooring. Significant capital improvements have been made across the portfolio, ensuring long-term value and minimizing future maintenance needs. These improvements include roofs with a minimum of 15 years of remaining useful life, hot water tanks and furnaces less than 10 years old, updated electrical panels compliant with current code, and vinyl window replacements where necessary. Exterior paint and siding have also been addressed as needed. The properties are professionally managed by a company with over 75 years of combined experience managing more than 425 properties in the area, providing peace of mind for the investor. This turnkey portfolio offers a rare opportunity to acquire a well-maintained, high-performing multifamily investment in a desirable location. The seller is open to offers on the entire portfolio, individual properties, or select groups of properties. The properties are situated in the following zip codes: 44102, 44109, 44111, and 44135.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Longitude

-81.7566523

Latitude

41.4597457