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Kristin Baum

Engel & Völkers

kristin.baum@engelvoelkers.com +1(330) 921-8918

$ 499,900

Est. payment -/mo

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1471 E 118th ST Cleveland, OH 44106

10 Beds

4 Baths

4,281 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Subdivision College Park 02/T A Mccaslin

MLS Listing ID 5212544

Bedrooms 10

Full Baths 4

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1910

Annual Tax Amount $4,039

Tax Year 2025

Lot Size 4,281 Sqft

Acres 0.0983

Property Sub-Type Duplex

Property Description

FULLY OCCUPIED 10 bedroom duplex in the heart of the thriving University Circle area!! This high performing duplex currently generates almost $65K in annual GROSS INCOME and over $55K in NET INCOME yielding a 11.12% CAP RATE (details available upon request). With strong cash flow and a premium location that is within minutes to CWRU (CWRU Safe Ride stop is only a few houses away), and convenient to University Hospitals, Cleveland Clinic, VA and Cleveland Institute of Music in an area that is GROWING in demand, this remodeled duplex is the perfect addition to any portfolio. The FURNISHED right side of duplex is currently fully leased by the room to students through August 15, 2026, generating $3130/mo. in rent. The left-side duplex features the same spacious 5 bedroom/2 bath layout and is occupied by a great, long-term CMHA-assisted family that has been in place for 8 years. The left side unit currently generates $2269/mo. with the tenant responsible for only $81/mo. There is also potential for a CMHA rent increase this November, adding more upside to this already strong-performing asset. Extensive capital investments ensure low-maintenance ownership in future: new roof (2024), new hot water heater on left side (2025), right side gutted and remodeled – new everything – bathrooms, kitchen, floors, walls, appliances, lighting and fixtures (2024), entire front porch rebuilt (2026), landscaping renovation (2026), left side gut renovated (2017). This is a standout opportunity for investors seeking IMMEDIATE CASH FLOW, strong rental history and long-term appreciation potential in one of Cleveland's hottest rental areas. Don't miss out on this perfect blend of guaranteed, recession-proof CMHA income and the premium pricing power of furnished student housing! Property will transfer with a valid Lead Safe Certificate.

Location

State OH

County Cuyahoga

Rooms

Basement Full, Unfinished

Interior

Heating Forced Air

Cooling Ceiling Fan(s), Window Unit(s)

Fireplace No

Appliance Microwave, Range, Refrigerator

Laundry In Basement

Exterior

Parking Features None, Off Street

Fence Fenced

Water Access Desc Public

Roof Type Fiberglass

Private Pool No

Building

Story 3

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Construction Status Updated/Remodeled

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 120-10-079

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Jullian Vaughn • Premier Heights Realty LLC • 216-860-0005, sophie@premierheights.com

Kristin Baum

Broker Associate | License ID: 2016005613

+1(330) 921-8918

Kristin Baum

1471 E 118th ST Cleveland, OH 44106

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1471 E 118th ST