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1471 E 118th Street

Cleveland, OH 44106

$499,900 $2,107/Mo

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Overview

Bed

Bath

0.10

Acre(Lot)

Description

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 i s 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.

Property Details

Property Type : Residential Income

Price : $499,900

AD Id : 79130180

MLS Id : 5212544

Beds : 10

Lot Size : 0.10 Acre

Year Built : 1910

County : Cuyahoga

Subdivision: None Available

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 10

Bathroom Information

Total Baths: 4 Full Baths: 4

Room Information

Rooms Total: 16 Has Basement: Yes Basement: Full, Unfinished
Roofing Information

Fiberglass
Interior Features

Roof: Fiberglass Appliances: Microwave, Range, Refrigerator Laundry Features: In Basement
Heating & Cooling

Has Heating: Yes Heating: Forced Air Has Cooling: Yes Cooling: Ceiling Fan(s), Window Unit(s)

Building Information

Year Built: 1910 Construction Materials: Wood Siding Stories: 3 Private Pool: No

Lot Information

Main Square Feet: 0.0983 Acres Lot Size Acres: 0.0983 Lot Size Source: Assessor

Property Information

Subdivision: College Park 02/T A Mccaslin Source Property Type: Residential Income Property SubType: Duplex Levels: Three Or More Property Age: 116

Listing Price Information

Listing Price: $499900 Cash, Conventional, FHA, VA Loan

Tax Information

Parcel Number: 120-10-079 Tax Year: 2025 Annual Tax: $4039 Tax Legal Desc: 388 MC CASLIN#2 0083 ALL

Parking Information

None, Off Street

Location Information

Direction: Just North of Ashbury WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1978 E 126th St, Cleveland, OH, 44106	$675,000	8	5	4,921	4,921 SqFt
1975 E 124th Place, Cleveland, OH, 44106	$310,000	4	3	--
1926 E 123rd Street #REAR, Cleveland, OH, 44106	$220,000	3	2	1,431	1,431 SqFt
1947 Coltman Road, Cleveland, OH, 44106	$450,000	7	4	3,336	3,336 SqFt
1949 Coltman Road, Cleveland, OH, 44106	$450,000	8	4	3,170	3,170 SqFt
10511-10515 Frank Avenue, Cleveland, OH, 44106	$300,000	8	4	--
2206 E 93rd Street, Cleveland, OH, 44106	$225,000	8	3	5,930	5,930 SqFt
1821 E 93rd Street, Cleveland, OH, 44106	$150,000	8	3	--

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MLS Now. Real estate listings are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed.

ByOwner last updated this listing 06/12/2026 @ 06:52

MLS: 5212544 LISTED BY: Jullian Vaughn, Premier Heights Realty LLC 216-860-0005 SOURCE: MLS Now