Commercial Real Estate for Sale at 1054 Nela View Road in Cleveland Heights, OH for $1,800,000

Listing data updated June 20, 2025 - 11:29am
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1054 Nela View Road | Cleveland Heights

$1,800,000 | 0.0 Sq. Ft.

PORTFOLIO SALE! Incredible opportunity to acquire 18 units in one of Cleveland\u2019s premier east side suburbs! Ideally located in Cleveland Heights, this portfolio is perfect for the investor looking for the opportunity for instant cashflow and scale. 16 individual properties totaling 18 units make up this portfolio. Currently, 14 units are occupied and bringing in over $20,000 per month with a significant amount of upside through applying for rent increases via section 8 and rehabbing/leasing the vacant units! The current occupants are section 8 tenants, meaning a new owner will be happy with consistent and essentially \u201Cguaranteed\u201D rent collections. Based on proforma rents in the area, a new owner should easily be able to get this portfolio to gross over $28,500\u002B per month with little effort! \r\n\r\nWith the majority of units being 3 bedrooms, rents can easily be pushed and NOI increased. Based on estimated expenses, at a cap rate of 7% on proforma numbers, the value of this portfolio should easily exceed $2.85M! In addition, all tenants are month to month, allowing a buyer to immediately implement their business plan and increase rents across the board. Tenants are currently responsible for their own electricity, gas, trash and lawn care. Owner pays water/sewer at all properties. MLSNow 5133129

Directions to property: Multiple

MLS Listing ID: 
MLSNow 5133129
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,800,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Other
Primary Market Area: 
Cleveland Heights
Address: 
1054 Nela View Road, Cleveland Heights, OH 44112
County: 
Cuyahoga
Latitude: 
41.5315140
Longitude: 
-81.5612090
Directions: 
Multiple
Public Remarks: 
PORTFOLIO SALE! Incredible opportunity to acquire 18 units in one of Cleveland\u2019s premier east side suburbs! Ideally located in Cleveland Heights, this portfolio is perfect for the investor looking for the opportunity for instant cashflow and scale. 16 individual properties totaling 18 units make up this portfolio. Currently, 14 units are occupied and bringing in over $20,000 per month with a significant amount of upside through applying for rent increases via section 8 and rehabbing/leasing the vacant units! The current occupants are section 8 tenants, meaning a new owner will be happy with consistent and essentially \u201Cguaranteed\u201D rent collections. Based on proforma rents in the area, a new owner should easily be able to get this portfolio to gross over $28,500\u002B per month with little effort! \r\n\r\nWith the majority of units being 3 bedrooms, rents can easily be pushed and NOI increased. Based on estimated expenses, at a cap rate of 7% on proforma numbers, the value of this portfolio should easily exceed $2.85M! In addition, all tenants are month to month, allowing a buyer to immediately implement their business plan and increase rents across the board. Tenants are currently responsible for their own electricity, gas, trash and lawn care. Owner pays water/sewer at all properties.
Community Information
School District: 
Cleveland Hts-Univer - 1810
Subdivision: 
Forest Hill
Building Details
Details about the building on a property.
Year Built: 
1923
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
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.13
Lot Size (Area): 
0.13
Public Record
Parcel Number: 
681-05-035
Annual Tax: 
$2,719.14
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Michael Orlando
Listing Office Name: 
Key Realty

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