USAOHCleveland Heights3589 Cedarbrook Rd

3589 Cedarbrook Rd, Cleveland Heights, OH

Name: 3589 Cedarbrook Rd, For Sale in Cleveland Heights - eXp Realty
Brand: Russell Real Estate Services
SKU: 5201607
Price: 1840000 USD

Condo

For Sale

Listed price in listed location currency (USD).

$1,840,000

000

MLS® 5201607

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Commercial Sale

Size -

Garage

HOA Fees

Taxes $48,152

Days Active 1

Approx. Age 1930

MLS® Number 5201607

Property Address: 3589 Cedarbrook Rd, Cleveland Heights, OH, 44118-3015

Average square foot calculated using Size range provided by listing agent.

Description

This is a portfolio built for the investor who understands that the best deals are bought, not found. Ten single-family homes across three of the strongest inner-ring east-side suburbs, priced as a package at $1, 840, 000 against an aggregate individual-unit comp value of $2.3M to $2.4M. That is roughly $464, 000 of instant equity sitting on the closing table, plus the optionality to piece the portfolio off one house at a time as leases turn. Entry and location are the play. Cash flow is the bonus. The portfolio is 7 homes in Cleveland Heights, 1 in University Heights, and 2 in Richmond Heights, all 3BR/1.5BA or 4BR/1.5BA. Most have been renovated and are occupied by long-term tenants, with 8 of 10 on leases running through mid-2026 into 2027 and 2 on month-to-month. Current gross rent is $182, 100 annually after recent increases, against market rent of $215, 100. That is roughly 18% organic upside as leases roll, with zero vacancy today. Location is what makes this portfolio different from a scattered-site buy. Cleveland Heights gives you Cedar-Lee, Coventry, and a school district that trades to owner-occupants at full retail. University Heights sits on the John Carroll and Cedar Center corridor. Richmond Heights benefits from Town Square redevelopment and I-271 access. These are retail-grade zip codes, which is the entire reason the sell-off strategy works. You are not trying to wholesale out of rough areas. You are unwinding into a market that actively bids for your product. The numbers: $1, 840, 000 ask / $184, 000 per door / 6.4% current cap / 7.4% proforma cap / $117k+ current NOI / $135k+ proforma NOI / 100% occupancy / $182, 100 in-place gross rent / $218, 700 market rent. Point of sale has been ordered. Inspections are scheduled over the next week. Please note: No Seller Financing available.

MLS® Number5201607

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1930

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 16, 2026List Date

$1,840,000List Price

Commute

Commute

Starting Address

Destination Address

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment

I want to view this property

By pressing "Take a Tour", I confirm that I have read and agree to the eXp Privacy Policy, and Terms of Use.

By pressing "Take a Tour", I am electronically signing and consenting to receive marketing comms about real estate brokerage and mortgage lending services, delivered via email, phone and/or text (using "automated technology" such as an automatic telephone dialing system, and/or an artificial or prerecorded voice), from eXp Realty® and its independent contractor real estate professionals and their affiliate SUCCESS® Lending using the contact information I provided. Your consent is not a condition of purchase and you may revoke it at any time by replying "STOP" to any texts. Text HELP for more info. Message and data rates may apply. You may also contact us directly at 1-844-683-4664.

Similar Listings

Comparable Properties

Explore eXp Find an Agent Join eXp Investor Relations Company Careers Home Guides

eXp Life Zoocasa SUCCESS®SUCCESS® Lending eXp Revenos eXp Commercial eXp Luxury eXp Land and Ranch Accessibility

Terms and Conditions Privacy Rights Request Privacy Policy Cookie Policy Brand Guidelines Help Sitemap

2219 Rimland Drive, Suite 301, Bellingham, Washington, 98226

1 833-303-0610

[email protected]

eXp REALTY

DMCA Notice

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply

Fair Housing and Reasonable Accommodations

MLS Compliance Statements

Karen Richards - Designated Managing Broker, Broker Operations - TX

Texas Real Estate Commission information about brokerage services

Texas Real Estate Commission Consumer Protection Notice

eXp Realty® is committed to adhering to the guidelines of The New York State Fair Housing Regulations.The Fair Housing Notice →

*Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H.Learn More →

eXp Realty of California, Inc. | CA DRE# 01878277 | Deborah Penny - Designated Broker

eXp Realty of Southern California, Inc. | CA DRE#01325837 | Jason Crawford – Designated Broker

eXp Realty of Greater Los Angeles, Inc. | CA DRE# 01240990 | Mike Mendibles - Designated Broker

eXp Realty of Northern California, Inc. | CA DRE# 01951343 | Ryan Rosas - Designated Broker