Home ›

Commercial Real Estate for Sale at 3589 Cedarbrook Road in Cleveland Heights, OH for $1,840,000

Listing data last changed 04/16/2026 - 8:08pm
Javascript is required to view this map.
Tools

3589 Cedarbrook Road | Cleveland Heights

$1,840,000 | 0.0 Sq. Ft.

This is a portfolio built for the investor who understands that the best deals are bought, not found. Ten single-family homes across three of the strongest inner-ring east-side suburbs, priced as a package at $1,840,000 against an aggregate individual-unit comp value of $2.3M to $2.4M. That is roughly $464,000 of instant equity sitting on the closing table, plus the optionality to piece the portfolio off one house at a time as leases turn. Entry and location are the play. Cash flow is the bonus.\r\n\r\nThe portfolio is 7 homes in Cleveland Heights, 1 in University Heights, and 2 in Richmond Heights, all 3BR/1.5BA or 4BR/1.5BA. Most have been renovated and are occupied by long-term tenants, with 8 of 10 on leases running through mid-2026 into 2027 and 2 on month-to-month. Current gross rent is $182,100 annually after recent increases, against market rent of $215,100. That is roughly 18% organic upside as leases roll, with zero vacancy today.\r\n\r\nLocation is what makes this portfolio different from a scattered-site buy. Cleveland Heights gives you Cedar-Lee, Coventry, and a school district that trades to owner-occupants at full retail. University Heights sits on the John Carroll and Cedar Center corridor. Richmond Heights benefits from Town Square redevelopment and I-271 access. These are retail-grade zip codes, which is the entire reason the sell-off strategy works. You are not trying to wholesale out of rough areas. You are unwinding into a market that actively bids for your product.\r\n\r\nThe numbers: $1,840,000 ask / $184,000 per door / 6.4% current cap / 7.4% proforma cap / $117k\u002B current NOI / $135k\u002B proforma NOI / 100% occupancy / $182,100 in-place gross rent / $218,700 market rent. Point of sale has been ordered. Inspections are scheduled over the next week. Please note: No Seller Financing available. MLSNow 5201607 Directions to property: East Cleveland Location

MLS Listing ID: 
MLSNow 5201607
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,840,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Cleveland Heights
Address: 
3589 Cedarbrook Road, Cleveland Heights, OH 44118
County: 
Cuyahoga
Latitude: 
41.5006490
Longitude: 
-81.5511090
Directions: 
East Cleveland Location
Public Remarks: 
This is a portfolio built for the investor who understands that the best deals are bought, not found. Ten single-family homes across three of the strongest inner-ring east-side suburbs, priced as a package at $1,840,000 against an aggregate individual-unit comp value of $2.3M to $2.4M. That is roughly $464,000 of instant equity sitting on the closing table, plus the optionality to piece the portfolio off one house at a time as leases turn. Entry and location are the play. Cash flow is the bonus.\r\n\r\nThe portfolio is 7 homes in Cleveland Heights, 1 in University Heights, and 2 in Richmond Heights, all 3BR/1.5BA or 4BR/1.5BA. Most have been renovated and are occupied by long-term tenants, with 8 of 10 on leases running through mid-2026 into 2027 and 2 on month-to-month. Current gross rent is $182,100 annually after recent increases, against market rent of $215,100. That is roughly 18% organic upside as leases roll, with zero vacancy today.\r\n\r\nLocation is what makes this portfolio different from a scattered-site buy. Cleveland Heights gives you Cedar-Lee, Coventry, and a school district that trades to owner-occupants at full retail. University Heights sits on the John Carroll and Cedar Center corridor. Richmond Heights benefits from Town Square redevelopment and I-271 access. These are retail-grade zip codes, which is the entire reason the sell-off strategy works. You are not trying to wholesale out of rough areas. You are unwinding into a market that actively bids for your product.\r\n\r\nThe numbers: $1,840,000 ask / $184,000 per door / 6.4% current cap / 7.4% proforma cap / $117k\u002B current NOI / $135k\u002B proforma NOI / 100% occupancy / $182,100 in-place gross rent / $218,700 market rent. Point of sale has been ordered. Inspections are scheduled over the next week. Please note: No Seller Financing available.
Community Information
School District: 
Cleveland Hts-Univer - 1810
Building Details
Details about the building on a property.
Stories: 
3
Year Built: 
1930
Living Area: 
0.0
Basement: 
Full,Unfinished
Construction
Roof: 
Asphalt,Fiberglass
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Gas,Radiator(s)
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.12
Lot Size (Area): 
0.12
Lot Features
Fence: 
Chain Link,Other,Wood
Public Record
Parcel Number: 
722-02-112
Annual Tax: 
$48,152.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Russell Real Estate Services

Request More Information