Deal Overview – Eaglecrest | 38-Unit Multifamily

[Thomas Lorini]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Richland.

Purchase price: $1,828,000
Cash invested: $700,000

Deal Overview – Eaglecrest | 38-Unit Multifamily

📍 Bedford, Ohio
🏢 38 Units | Residential Multifamily | Acquired October 2023

We picked up Eaglecrest in October 2023—a clean, well-located 38-unit building in Bedford, a solid suburb just southeast of Cleveland. The asset was already stabilized, but we saw clear potential to push rents, improve tenant experience, and increase overall performance with some targeted improvements.

Rather than a heavy lift, this was more of a “tune-up” play: updating select units, reducing operational waste, and tightening up management systems.

🏆 Current estimated value: $3.1M, with strong cash flow and long-term upside.

Highlights:

Located in a quiet, high-demand rental pocket

Stable occupancy with low turnover

Light value-add strategy—small updates, big impact

Steady performer in our Cleveland-area portfolio

This property was a great example of finding hidden value in an already decent building—and letting good management do the heavy lifting.