Single Family Rental Portfolio for Sale
Selling 19 single family rental properties. Almost all rented and will be 100% occupied by closing. Just a couple inspections remaining before moving the last couple of tenants in.
Asking price - $1,435,000
Annual income - $193,440
Annual NOI - $143,720 (including Management @ 7%)
The properties are mainly located in the Lee/Harvard area, Maple Heights, and Garfield Heights.
The properties are all remodeled within the past 18 months. Most of the properties have new flooring, fresh paint, new kitchens with granite countertops and tile backsplashes. Newer bathrooms with new toilets, vanities and shower surrounds. The plumbing has been replaced in most of the homes and some have new sewer stacks. Most of the electrical panels are updated. The quality of the homes has made it very easy to attract good tenants, we usually have a hand full of prospects before we finish our remodels and rent them immediately.
All new written leases for 12-24 months. Professionally managed. All tenants are screened with income requirements/verification and background checks.
Reply for a rent roll and any other information.