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About This Home

This 5-bedroom, 2-bathroom residential multi family at 3185 W 58th Street in Cleveland, OH is listed for $100,000 ($44 per sqft). Built in 1915, the home offers 2,290 sqft of living space on a 0.13 acres lot.

Agent 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. $695k for the entire package. NO SELLER FINANCING.

Key Features

  • Built in 1915
  • 0.13 acre lot
  • 2 stories

Property Details

2 stories
2 full
1915

Monthly Cost Estimate

$535/mo

20% down · 6.5% · 30 years

Principal$72
Interest$433
Insurance$29

Estimates only. Actual payments may vary.

Location

3185 W 58th Street

Cleveland, OH 44102

John O Steigers Allotment

Property Details

Construction

WoodSiding

Heating

Forced AirNatural Gas

Questions & Answers

This 5-bedroom, 2-bathroom residential multi family at 3185 W 58th Street is listed at $100,000 ($44/sqft). The estimated monthly payment is $433 based on 20% down at 6.5% interest.

Key features include: Built in 1915, 0.13 acre lot, 2 stories.

This property is listed by Michael L Magno and can be reached at 2162368849 or michael@themagnogroup.com.

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MM

Michael L Magno

Agent at Keller Williams Living

(216) 236-8849

Listed by Keller Williams Living

MLS# 5191112· Source: listhub· Updated 32 days ago

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3185 W 58th Street, Cleveland, OH 44102

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