Property Description

Stabilized 18-unit multifamily portfolio in great rental market! Consisting of two neighboring brick apartment buildings in South Euclid, these units offer immediate cash flow with limited deferred maintenance and room for continued rent growth. The property includes sixteen 2-bedroom and two 1-bedroom apartments and is currently producing an 7.73% cap rate with a projected 8.69% pro forma cap rate through normal lease renewals and one remaining vacancy. Ownership has invested over $224,000 in recent capital improvements, including renovated kitchens and baths, updated flooring, electrical panel upgrades, mechanical improvements, security cameras, and a new roof on 885 S. Green (2025). Building 885 features central air, 10 garage spaces, 6 surface parking spaces, owner-owned laundry, newer furnaces and hot water tanks. Building 893 offers 8 garage spaces, 4 surface spaces, owner-owned laundry, updated units, one commercial hot water tank, and one vacant unit ready for lease-up. Located next to the Euclid Creek Reservation and minutes from Cleveland Clinic, University Hospitals, Beachwood, Cleveland Heights, shopping, dining, and Metroparks, this is an excellent opportunity to acquire a well-maintained investment property with stable income and long-term appreciation. Seller is also selling 24 units across the street. Buyers interested in the entire 42 units will have the opportunity to quality for up to 15% of seller financing.

Property Features

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