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8213 Ivandale Dr, Parma, OH

Name: 8213 Ivandale Dr, Sold in Parma - eXp Realty
Brand: Keller Williams Living
SKU: 5148371
Price: 1220000 USD

Real Estate

Sold

Listed price in listed location currency (USD).

$1,180,000

$1,220,000

000

MLS® 5148371

Key Facts
Description
Map

Key Facts

Type Other

Levels Commercial Sale

Size -

Garage Yes

HOA Fees

Taxes $21,737

Approx. Age 1951

MLS® Number 5148371

Property Address: 8213 Ivandale Dr, Parma, OH, 44129-4313

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

Description

This 7-property, 8-unit single-family portfolio is located across some of Northeast Ohio’s most desirable suburbs, including Parma, North Olmsted, Brook Park, South Euclid, and University Heights. Fully occupied and generating $12, 074/month in rent, the current NOI is $79, 649 with a pro forma NOI of $104, 356, supporting a cap rate of 6.53% as-is and 9.20% pro forma. Pro forma cash-on-cash return is 23%, with over $25K in annual rent upside. Tenants pay all utilities, except water/sewer in the duplex. Estimated ARV is $1.74M, backed by strong neighborhood comps averaging $143K per home, offering over $500K in potential equity when resold individually to homeowners. Recent capital improvements include three new hot water tanks, a new furnace, a $12K rent-ready renovation at 8213 Ivandale, and a $7K shower upgrade at Raymont. CapEx accounts for over 50% of reported repair costs, allowing immediate expense reduction under new management. Properties are located in high-demand zip codes with fast-moving resale markets, proven homeowner demand, and long-term appreciation. Property breakdown includes: 8213 Ivandale, Parma – 4 bed / 2 bath, 1, 910 sq ft (ARV $243K); 1474-76 Sherbrook, South Euclid – 7 bed / 3 bath duplex, 3, 555 sq ft (ARV $250K); 3852 Grosvenor, South Euclid – 3 bed / 1 bath, 1, 589 sq ft (ARV $170K); 4647 Sellhurst, North Olmsted – 3 bed / 1 bath, 1, 237 sq ft (ARV $300K); 6113 Michael, Brook Park – 3 bed / 2 bath, 1, 036 sq ft (ARV $250K); 3901 Warrendale, South Euclid – 4 bed / 2 bath, 1, 598 sq ft (ARV $250K); and 3582 Raymont, University Heights – 4 bed / 2.5 bath, 1, 728 sq ft (ARV $275K). Rent roll and financials included in the due diligence package attaches. No showings until accepted offer. Seller has two additional portfolios and two single-family homes available. Inquire for bulk pricing or multi-portfolio opportunities. This is a clean, stable portfolio with location, income, equity, and multiple exit strategies.

MLS® Number5148371

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageYes

Approx. Age1951

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

Oct 15, 2025End Date

$1,180,000Sold Price

Sold

Aug 14, 2025List Date

$1,220,000List Price

Commute

Commute

Starting Address

Destination Address

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