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Commercial Real Estate for Sale at 9620 Fuller Avenue in Cleveland, OH for $450,000

Listing data last changed 10/22/2025 - 1:53pm
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9620 Fuller Avenue | Cleveland

$450,000 | 0.0 Sq. Ft.

This Portfolio offers a unique opportunity to acquire 6 parcels that include 6 multifamily buildings and a parcel of land on Cleveland\u2019s eastside\u2014totaling 18 units with a diverse mix units.Priced at just $25,000 per unit / $67.89 per sq ft, it is primed for a motivated investor. Current rents and occupancy are below market, resulting in a present cap rate of -2.9%. Once stabilized and repositioned, the proforma cap rate jumps to 33.8%, with gross rental revenue projected at $211,800 annually. Current monthly income: $1950/ mo (from Only 3 occupied units) Current Gross Income: $23,400/year Proforma Gross Income: $211,800/year Actual Expenses: $36,544/year (expected to normalize to $53,312 at stabilization) Proforma NOI: $147,898/year (current NOI is negative) Projected Cash-on-Cash: 107% | IRR: 178% Unit Mix: Studios: 4 1BR/1BA: 3 2BR/1BA: 6 3BR/1BA: 3 5BR/1BA: 1 All properties need varying levels of renovation and lease-up, but most major capital expenditures are already factored into the proforma. Comparable sales in the neighborhood support an ARV between $648,000\u2013$716,000, with plenty of margin for value creation. Whether you\u2019re looking to renovate and refinance, reposition and hold, or eventually sell as a stabilized package, this portfolio offers an unbeatable entry point into Cleveland multifamily with major value-add potential and strong projected returns. MLSNow 5126483 Directions to property: All located on Clevelands eastside in 44103, 44104 and 44105

MLS Listing ID: 
MLSNow 5126483
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$450,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Other
Primary Market Area: 
Cleveland
Address: 
9620 Fuller Avenue, Cleveland, OH 44104
County: 
Cuyahoga
Latitude: 
41.4692931
Longitude: 
-81.6178618
Directions: 
All located on Clevelands eastside in 44103, 44104 and 44105
Public Remarks: 
This Portfolio offers a unique opportunity to acquire 6 parcels that include 6 multifamily buildings and a parcel of land on Cleveland\u2019s eastside\u2014totaling 18 units with a diverse mix units.Priced at just $25,000 per unit / $67.89 per sq ft, it is primed for a motivated investor. Current rents and occupancy are below market, resulting in a present cap rate of -2.9%. Once stabilized and repositioned, the proforma cap rate jumps to 33.8%, with gross rental revenue projected at $211,800 annually. Current monthly income: $1950/ mo (from Only 3 occupied units) Current Gross Income: $23,400/year Proforma Gross Income: $211,800/year Actual Expenses: $36,544/year (expected to normalize to $53,312 at stabilization) Proforma NOI: $147,898/year (current NOI is negative) Projected Cash-on-Cash: 107% | IRR: 178% Unit Mix: Studios: 4 1BR/1BA: 3 2BR/1BA: 6 3BR/1BA: 3 5BR/1BA: 1 All properties need varying levels of renovation and lease-up, but most major capital expenditures are already factored into the proforma. Comparable sales in the neighborhood support an ARV between $648,000\u2013$716,000, with plenty of margin for value creation. Whether you\u2019re looking to renovate and refinance, reposition and hold, or eventually sell as a stabilized package, this portfolio offers an unbeatable entry point into Cleveland multifamily with major value-add potential and strong projected returns.
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
Abraham Fullers Allotment
Building Details
Details about the building on a property.
Year Built: 
1910
Living Area: 
0.0
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: 
Forced Air,Hot Water,Steam
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
Public Record
Parcel Number: 
127-17-001
Annual Tax: 
$8,413.16
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Keller Williams Living

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