Listed by Erin Thomas of Keller Williams Living (Erinthomas@kwcommercial.com,440-670-2300)

Listing Sold by EXP Realty, LLC.
This 7-property, 8-unit portfolio (including one duplex) is located on Cleveland's east side, primarily in Garfield Heights-an appreciating suburb just 15 minutes from downtown. Fully occupied and generating $9,230/month in rent with pro forma rents at $11,650/month, this portfolio offers over $30,000/year in immediate rent upside. Tenants pay all utilities except water/sewer in the duplex, and annual expenses are lean at just $16,000. Current NOI is $58,479 with pro forma NOI at $84,392, resulting in a 7.8% cap rate today and 12% pro forma. With a 1.3 DSCR and 7.24% day-one cash-on-cash return, this is an excellent candidate for long-term financing, refinance, or retail exit. All single-family homes have 3+ bedrooms, making them ideal for future resale. ARV is estimated at $1.1M based on $143K/unit comps. Recent updates include new roofs (Bancroft & Gladden), furnace and hot water tanks (Bancroft, 8113 Grand Division), flooring (E 115), and interior renovations at Linda Ln and E 115. Over 50% of past repair costs were CapEx, allowing future management to reduce expenses to 5-8%. Leases are secured through 2026-2027. Garfield Heights continues to see strong demand, with median home prices up 16% year-over-year and limited inventory. The area is supported by nearby hospitals, employers, and downtown access, making it ideal for long-term tenant retention. Full due diligence available. No showings until accepted offer. Seller has two other portfolios and two single-family properties also available: search 8213 Ivandale (Parma), 509 Lake, 1344 W 93rd, and 2036 W 99th for more.

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Based on information submitted to MLS Now as of March 14, 2026 9:27 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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