Karen Duke
REALTOR®, Accredited Buyer Representative, Certified Expert Listing Agent, Key Mentor
MLS#5222686
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONDwight J Walker Allotment
SCHOOLMayfield City
Property Description
Turnkey 16-property single-family rental portfolio across highly desirable Cleveland East suburbs including South Euclid, Cleveland Heights, Lyndhurst, Mayfield Heights, and Cleveland. Offered as a package at $3,200,000. This stabilized portfolio includes 16 individual single-family homes with established rental history, strong tenant demand, and immediate cash flow from day one. Current rent roll reflects approximately $33,685/month in scheduled rental income ($404,220 annually). Based on provided income and property taxes, the portfolio produces approximately $344,121 NOI, representing an attractive 10.75% cap rate at the asking price (buyer to verify all expenses and financials). Many properties feature updates, desirable layouts, and tenant-friendly amenities including updated finishes, and central air at many locations. These homes are strategically located near major employment centers, shopping, dining, parks, schools and transportation, making them ideal long-term rental assets. Portfolio Highlights: ? 16 Single-Family Rental Homes ? $33,685/month rental income ? $404,220 gross annual income ? Approx. 10.75% cap rate based on provided rent roll ? Stabilized tenant base ? Renovated and income-producing assets ? Strong Cleveland suburban rental markets ? Excellent opportunity for investors seeking scale and diversification Included properties: 6601 Ridgeview Rd Mayfield Heights; 4011 Lancaster Rd South Euclid; 7220 Deveny Ave Cleveland; 1171 Quilliams Rd Cleveland Hts; 956 Nobleshire Rd Cleveland Hts; 857 Quarry Dr Cleveland Hts; 4033 Stonehaven Rd South Euclid; 4241 Verona Rd South Euclid; 1513 Westdale Rd South Euclid; 4187 Stilmore Rd South Euclid; 4218 Stilmore Rd South Euclid; 4198 Eastway Rd South Euclid; 1799 Wrenford Rd South Euclid; 4349 Ardmore Rd South Euclid; 4847 Farnhurst Rd Lyndhurst; 1509 Maple Rd Cleveland Hts. Call today for additional details!
Property Features
Property Type: Commercial - Business
Heating: Forced Air
Lot Size: 0.16 Acres
Roof Type: Asphalt, Fiberglass
Stories: 1.0
Taxes: $60,098 / year
Year Built: 1950
Feature Descriptions
Days on Site: 6
Parcel#: 862-35-028
Sewer: Public Sewer
Water: Public
Local Schools
School District: Mayfield City
Listed By / Shown By
Listed By
Agency Name: Russell Real Estate Services
Agency Contact: jessek.cst@gmail.com, 440-212-5656
Shown By
Agent Name: Karen Duke
Agent Phone: Cell: (937) 768-1117
Agency Title: Key Realty
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6601 Ridgeview Road | MLS# 5222686
This commercial property located at 6601 Ridgeview Road, Mayfield Heights, OH 44124 is currently listed for sale with an asking price of $3,200,000. Ridgeview Road is located within the Mayfield City school district. Search Mayfield Heights real estate on karenduke.ikeyrealty.com today.