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1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo
1471 E 118th Street, Cleveland, OH 44106 Photo

45 Total Photos [Click to View All]

1471 E 118th Street Cleveland, OH 44106
$499,900
Active / MLS# 5212544 / Multi Unit - Multiple / Cleveland
10 Beds
4 Baths

FULLY OCCUPIED 10 bedroom duplex in the heart of the thriving University Circle area!! This high performing duplex currently generates almost $65K in annual GROSS INCOME and over $55K in NET INCOME  yielding a 11.12% CAP RATE (details available upon request).  With strong cash flow and a premium location that is within minutes to CWRU (CWRU Safe Ride stop is only a few houses away), and convenient to University Hospitals, Cleveland Clinic, VA and Cleveland Institute of Music in an area that is GROWING in demand, this remodeled duplex is the perfect addition to any portfolio. The FURNISHED right side of duplex is currently fully leased by the room to students through August 15, 2026, generating $3130/mo. in rent.  The left-side duplex features the same spacious 5 bedroom/2 bath layout and is occupied by a great, long-term CMHA-assisted family that has been in place for 8 years.  The left side unit currently generates $2269/mo. with the tenant responsible for only $81/mo. There is also potential for a CMHA rent increase this November, adding more upside to this already strong-performing asset. Extensive capital investments ensure low-maintenance ownership in future: new roof (2024), new hot water heater on left side (2025), right side gutted and remodeled new everything bathrooms, kitchen, floors, walls, appliances, lighting and fixtures (2024), entire front porch rebuilt (2026), landscaping renovation (2026), left side gut renovated (2017). This is a standout opportunity for investors seeking IMMEDIATE CASH FLOW, strong rental history and long-term appreciation potential in one of Cleveland's hottest rental areas.  Don't miss out on this perfect blend of guaranteed, recession-proof CMHA income and the premium pricing power of furnished student housing! Property will transfer with a valid Lead Safe Certificate.

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Mortgage Calculator

%
years/fixed
yearly
yearly (est.)
(Payments are an estimate and may vary by lender)

Estimated Payment

$ 1,593.28 per month $1,110.89 Principal & Interest $336.58 Property Tax $145.80 Homeowner's Insurance

Property Details

Property Type: Multi Unit - Multiple
Basement: Full, Unfinished
Basement: Yes
Cooling: Ceiling Fan(s), Window Unit(s)
Heating: Forced Air
Lot Size: 0.10 Acres
Roof Type: Fiberglass
Stories: 3.0
Taxes: $4,039 / year
Year Built: 1910

Feature Descriptions

Appliances: Microwave, Range, Refrigerator
Days on Site: 14
Exterior: Wood Siding
Fencing: Fenced
Laundry: In Basement
Parcel#: 120-10-079
Parking: None, Off Street
Sewer: Public Sewer
Water: Public

Schools

School District: Cleveland Municipal - 1809

Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.

Listed By / Shown By

Listed By

Agency Name: Premier Heights Realty LLC
Agency Contact: 216-860-0005, sophie@premierheights.com

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