$175,500
Est. payment /mo
4 Beds
3 Baths
3,798 Sqft Lot
New
10906 Nelson AVE Cleveland, OH 44105
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Home Gradens Allotment
MLS Listing ID 5246474
Bedrooms 4
Full Baths 2
Half Baths 1
HOA Y/N No
Year Built 1929
Annual Tax Amount $1,002
Tax Year 2025
Lot Size 3,798 Sqft
Acres 0.0872
Property Sub-Type Duplex
Property Description
Strong turnkey, as-is investment opportunity with immediate cash flow and significant value-add upside at 10906 Nelson Avenue in Cleveland. This duplex features two 2-bedroom, 1-bath units and is fully occupied, providing rental income from day one. Current in-place rent totals $1,680 per month, while HUD Fair Market Rent is approximately $2,140 per month, creating a substantial $460-per-month rent gap and clear opportunity to increase income over time.
As currently rented, the property underwrites to an estimated 7.13% cap rate, with the opportunity to increase that to approximately 9.2% at HUD Fair Market Rent using the same expense assumptions. Because the property is already fully occupied and Lead Safe Certified, the value-add opportunity can be captured through future rent adjustments and natural tenant turnover rather than requiring a major renovation or construction project.
Located in Cleveland's 44105 ZIP code, Nelson Avenue offers convenient access to I-77, the Opportunity Corridor, University Circle, Cleveland Clinic, shopping, public transportation, and major employment centers.
10906 Nelson Avenue is also available as part of a four-duplex, eight-unit Cleveland investment portfolio offered at $702,000. The portfolio includes 15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave, with more than $120,000 in capital improvements completed across the properties, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing and sewer work, porches, gutters, windows, cabinets, appliances, and interior improvements.
For investors looking for a turnkey cash cow with tenants already in place and strong built-in value-add potential, Nelson offers immediate income today with meaningful room to grow rents toward current HUD levels over time. No showings without an accepted offer.
As currently rented, the property underwrites to an estimated 7.13% cap rate, with the opportunity to increase that to approximately 9.2% at HUD Fair Market Rent using the same expense assumptions. Because the property is already fully occupied and Lead Safe Certified, the value-add opportunity can be captured through future rent adjustments and natural tenant turnover rather than requiring a major renovation or construction project.
Located in Cleveland's 44105 ZIP code, Nelson Avenue offers convenient access to I-77, the Opportunity Corridor, University Circle, Cleveland Clinic, shopping, public transportation, and major employment centers.
10906 Nelson Avenue is also available as part of a four-duplex, eight-unit Cleveland investment portfolio offered at $702,000. The portfolio includes 15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave, with more than $120,000 in capital improvements completed across the properties, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing and sewer work, porches, gutters, windows, cabinets, appliances, and interior improvements.
For investors looking for a turnkey cash cow with tenants already in place and strong built-in value-add potential, Nelson offers immediate income today with meaningful room to grow rents toward current HUD levels over time. No showings without an accepted offer.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Water Access Desc Public
Roof Type Asphalt
Private Pool No
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 136-05-057
Special Listing Condition Standard
Listed by Kim Lewis • Home Equity Realty Group • [email protected]; 803-992-1429
Nearby Locations
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