6601 Ridgeview Road,Mayfield Heights, OH 44124
Mayfield Heights, OH 44124
Description
Priced at $200,000/ house part of a turnkey 16-property single-family rental portfolio across highly desirable Cleveland East suburbs including South Euclid, Cleveland Heights, Lyndhurst, Mayfield Heights, and Cleveland. Offered as a package at $3,200,000. This stabilized portfolio includes 16 individual single-family homes with established rental history, strong tenant demand, and immediate cash flow from day one. Current rent roll reflects approximately $33,685/month in scheduled rental income ($404,220 annually). Based on provided income and property taxes, the portfolio produces approximately $344,121 NOI, representing an attractive 10.75% cap rate at the asking price (buyer to verify all expenses and financials). Many properties feature updates, desirable layouts, and tenant-friendly amenities including updated finishes, and central air at many locations. These homes are strategically located near major employment centers, shopping, dining, parks, schools and transportation, making them ideal long-term rental assets. Portfolio Highlights: 16 Single-Family Rental Homes $33,685/month rental income $404,220 gross annual income Approx. 10.75% cap rate based on provided rent roll Stabilized tenant base Renovated and income-producing assets Strong Cleveland suburban rental markets Excellent opportunity for investors seeking scale and diversification Included properties: 6601 Ridgeview Rd Mayfield Heights; 4011 Lancaster Rd South Euclid; 7220 Deveny Ave Cleveland; 1171 Quilliams Rd Cleveland Hts; 956 Nobleshire Rd Cleveland Hts; 857 Quarry Dr Cleveland Hts; 4033 Stonehaven Rd South Euclid; 4241 Verona Rd South Euclid; 1513 Westdale Rd South Euclid; 4187 Stilmore Rd South Euclid; 4218 Stilmore Rd South Euclid; 4198 Eastway Rd South Euclid; 1799 Wrenford Rd South Euclid; 4349 Ardmore Rd South Euclid; 4847 Farnhurst Rd Lyndhurst; 1509 Maple Rd Cleveland Hts. Call today for additional details!
Details
| MLS # | 5224505 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 101 |
| Listing Provided By | Russell Real Estate Services | Jesse R Kracht |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 1,006 |
| Garage | 1 |
| Story(s) | 1 |
| Acreage | 0.16 |
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Attached, Garage |
Taxes
| Tax Annual Amount | 5179 |
|---|
Area Information
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Mayfield Heights |
| Zip Code | 44124 |
| Community Name | Dwight J Walker Allotment |
| Listing VS Median (in Dwight J Walker Allotment) | |
Price: $200,000 low | high Med: $200,000 sqft: 1,006 low | high Med: 1,006 $ / sqft: $199 low | high Med: $199 On site: 101 low | high Med: 101 | |
Market Activity 44124
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Mayfield Heights |
| Zip Code | 44124 |
| Community Name | Dwight J Walker Allotment |
| Listing VS Median (in Dwight J Walker Allotment) | |
Price: $200,000 low | high Med: $200,000 sqft: 1,006 low | high Med: 1,006 $ / sqft: $199 low | high Med: $199 On site: 101 low | high Med: 101 | |