3831 W 40th ST new Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44109
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,043 sqft
Price per Sqft $127
Subdivision Alice J Barkers
MLS Listing ID 5134302
Style Colonial
Bedrooms 3
Full Baths 1
HOA Y/N No
Abv Grd Liv Area 1,043
Year Built 1913
Annual Tax Amount $1,051
Tax Year 2024
Lot Size 1,559 Sqft
Acres 0.0358
Property Sub-Type Single Family Residence
Property Description
Looking to add high-performing, cash-flowing real estate to your portfolio in one of Ohio's most dependable rental markets? This 21-property (23-unit) portfolio across Cuyahoga County is fully tenant-occupied and generating strong returns. With properties spread across 11 zip codes, you'll gain exposure to a diverse mix of neighborhoods, rent ranges, and asset types—offering both stability and upside. Highlights: Consistent Cash Flow: All units are occupied and performing. Generating over $375,000 gross income annually. Gross Monthly Rent = $31,335. Gross Monthly Rent Per Unit = $1,362. Average Price Per Property = $133,333. Geographic Diversity: Spread across East and West Cleveland in 11 zip codes. Asset Mix: Combination of single-family and small multifamily homes—ideal for long-term appreciation and steady income. Tenant Type: 13 market-rate units and 10 subsidized (Section 8 & Eden). Upgraded Portfolio: Over $600K in cosmetic and mechanical improvements in the last two years—averaging $26K per unit. Professionally Managed: Minimal headaches, turnkey ready. Perfect for: Turnkey investors seeking immediate income from day one. Buyers wanting diversified exposure across Cleveland's rental submarkets. Portfolio builders bundling performing properties in strong cash flow areas. Interested in a breakdown of rents, expenses, and cap rates? Let's connect.
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air
Cooling Window Unit(s)
Fireplace No
Exterior
Parking Features On Street
Water Access Desc Public
Roof Type Asphalt
Private Pool No
Building
Sewer Public Sewer
Water Public
Architectural Style Colonial
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 014-02-021
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard