3150 W 40th Street, Cleveland, OH 44109

• 4 beds |
• 2 baths |
• 1,430 sqft

Property Description

Rare opportunity to acquire a 10-unit multifamily portfolio consisting of five duplexes located within minutes of each other across Cleveland’s westside rental corridors including Clark-Fulton, Stockyards, and West Boulevard. This portfolio offers investors the chance to acquire scale and execute a clear value-add stabilization strategy. The properties are currently in transition with 3 occupied units and 7 units vacant or in turnover, creating an opportunity for experienced investors to renovate, lease-up, and increase rents across the portfolio. The unit mix consists of 2- and 3-bedroom units, with market rents in the surrounding areas supporting approximately $1,000–$1,200 per unit once renovated and stabilized. Estimated renovation scope across the portfolio is approximately $120,000, including one heavier project requiring mechanical replacement and exterior improvements, along with several lighter unit turns. Once stabilized, the portfolio has the potential to generate $120K+ in annual gross rental income, with projected portfolio value approaching $950K–$1M. The property will be sold as the a portfolio during the initial marketing period. Ideal opportunity for experienced investors or operators seeking a westside Cleveland value-add multifamily project. Detailed rent projections and property information available upon request. See MLS 5191112 & 5191117 & 5191122 & 5191124 & 5191126. Tenant occupied units will only be shown once an offer has been accepted. EMAIL for any additional questions. $695,000 for the entire portfolio. NO SELLER FINANCING.

Listing Status:

Active

Data Last Updated:

March 17, 2026 at 7:17AM

Listing Office:

Keller Williams Living : 440-318-1620

Listing Agent:

Michael L Magno : 216-236-8849

MLS ID:

5191126

Interior

• Laundry: Common Area
• Basement: Full
• A/C: None
• Heating: Forced AirGas

Exterior

• Parking: DrivewayPaved

Construction

• Roofing: AsphaltFiberglass
• General: Vinyl Siding2Slab

Location

• Originating MLS: NOWDD_NORM
• School District: Cleveland Municipal - 1809
• County: Cuyahoga

Lot

• Zoning: 54 RHB&S 0321 ALL007-29-078

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD_NORM