Incredible opportunity to acquire a 17-unit, cash flowing portfolio in the west Cleveland submarket of Elyria/Lorain! This portfolio consists of 17 units spanning across 11 properties. There are (7) single-family homes, (3) duplexes and (1) four-unit and the portfolio is currently 100% occupied. There is one section 8 tenant with the rest being standard market-rate tenants. The current monthly rent roll is $10,725 with a proforma of over $16,000/month. 12 to 13 of the units have been updated as seen in the photos with 9 of the tenants currently on month-to-month leases and the other 8 quickly approaching lease expiration. This allows the new owner to take advantage of LMHA (Lorain County Metropolitan Housing Authority) rising rents and over a short amount of time, significantly increase the rent roll upon lease trade outs and re-leasing to voucher holding tenants. Please see supplements for current rent roll and full financial analysis.
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Donna Trunko Cell: (440) 567-9024 Office: (440) 331-8500 Email
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