Cleveland, OH 44103,1176 E 61st ST
Cleveland, OH 44103,1176 E 61st ST
Cleveland, OH 44103,1176 E 61st ST
8
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$899,000
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7,801 Sqft Lot
Pending

1176 E 61st ST Cleveland, OH 44103

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Kristine Roberts

Kristine Roberts

+1(304) 914-9340

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision Glass

MLS Listing ID 5133039

HOA Y/N No

Year Built 1910

Annual Tax Amount $13,098

Tax Year 2024

Lot Size 7,801 Sqft

Acres 0.1791

Property Sub-Type Apartment

Property Description

20-Unit, 6-Property Cleveland Portfolio—Cash Flow & Value-Add with 12% Proforma Cap Rate ----- Unlock immediate income and big upside with this rare 20-unit, 6-property portfolio in Cleveland. Four properties are conveniently clustered within walking distance on the east side, while two are on the west side in the 44102 zip code—offering both operational efficiency and geographic diversity. Current gross income exceeds $13,000/month with 3 vacancies providing instant value-add potential. Rents are well below market, with CMHA quoting $1,129/month for 2-bed units, making rent increases and lease-up a clear path to stronger returns. The portfolio is already delivering a cap rate over 9% as-is, with a proforma cap rate projected near 15% once fully stabilized and updated. Proforma income tops $20,000/month and ARV is estimated at $1.3M. Units will require some updates and hands-on management, but the bones are solid and the upside is real. New ownership can boost income through simple repairs, filling vacancies, and bringing rents to market. This is a perfect opportunity for buyers seeking steady cash flow, value-add, and scale in one of Cleveland's strongest rental corridors. Sellers will consider splitting the east and west side groups, but full portfolio offers are preferred. Includes: 1176, 1180 & 1187 E 61 St, 1167 E 60, 3355 W 91 & 3326 w 73 St Contact us today for financials, rent rolls, and showings—opportunities like this don't last!

Location

State OH

County Cuyahoga

Interior

Heating Forced Air

Cooling None

Fireplace No

Exterior

Water Access Desc Public

Building

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 104-13-074

Northern Ohio Regional MLS (YES-MLS)
Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com 440-670-2300

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 20
  • 6

    Cleveland Entrepreneurship Preparatory School

    Public | 5 - 8

  • 6

    Cleveland Arts and Social Sciences Academy

    Public | KG - 8

  • 5

    Michael R. White School

    Public | KG - 8

  • 5

    The Intergenerational School

    Public | KG - 8

  • 5

    Mary McLeod Bethune PreK-8 School

    Public | PK - 8

  • 4

    Tremont Montessori School

    Public | PK - 8

  • 4

    Campus International School

    Public | KG - 5

  • 4

    Village Preparatory School

    Public | KG - 4

  • 4

    Marion-Sterling School

    Public | PK - 8

  • 4

    Dike School of the Arts

    Public | PK - 8

  • 4

    Wade Park School

    Public | PK - 8

  • 4

    Daniel E. Morgan Elementary School

    Public | PK - 8

  • 4

    Bolton School

    Public | PK - 8

  • 4

    Citizens Academy

    Public | KG - 5

  • 3

    Northeast Ohio College Preparatory School

    Public | KG - 11

  • 3

    George Washington Carver School

    Public | PK - 8

  • 3

    Anton Grdina School

    Public | PK - 8

  • 3

    Franklin D. Roosevelt Academy

    Public | PK - 8

  • 2

    Mary B. Martin School

    Public | PK - 8

  • 2

    Patrick Henry School

    Public | PK - 8

Middle Schools 3
  • 4

    Horizon Science Academy-Cleveland Middle School

    Public | 6 - 8

  • 0

    The School of One

    Public | 8 - 12

  • 0

    Citizens Leadership Academy

    Public | 6 - 8

High Schools 20
  • 9

    Cleveland Early College High School

    Public | 9 - 12

  • 9

    Cleveland School of Science and Medicine

    Public | 9 - 12

  • 8

    Cleveland School for Architecture and Design

    Public | 9 - 12

  • 5

    Horizon Science Academy Cleveland

    Public | 9 - 12

  • 5

    Cleveland School of the Arts

    Public | 9 - 12

  • 4

    Glenville High School

    Public | 9 - 12

  • 2

    Successtech Academy School

    Public | 9 - 12

  • 2

    Design Lab @ Jane Addams

    Public | 9 - 12

  • 2

    East Technical High School

    Public | 9 - 12

  • 2

    New Technology Hs@East Tech

    Public | 9 - 12

  • 1

    Jane Addams Business Careers Center

    Public | 9 - 12

  • 1

    Health Careers Center High School

    Public | 9 - 12

  • 0

    Promise Academy

    Public | 9 - 12

  • 0

    Cleveland Academy for Scholarship Technology and Leadership

    Public | 9 - 12

  • 0

    Invictus High School

    Public | 9 - 12

  • 0

    Nexus Academy of Cleveland

    Public | 9 - 12

  • 0

    Life Skills High School of Cleveland

    Public | 9 - 12

  • 0

    St Martin de Porres High School

    Private | 9 - 12

  • 0

    Law & Municipal Careers @ Mlk

    Public | 9 - 12

  • 0

    Langston Hughes High School

    Public | 9 - 12

School and business data provided by Attom Data.

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Kristine Roberts

Kristine Roberts

Agent | License ID: c27336

+1(304) 914-9340

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