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1471 E 118th Street, 
Cleveland, OH 44106

$499,900


10

Beds


4

Baths


-

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Jullian Vaughn

Sophie Boehlen

Premier Heights Realty LLC.

216-860-0005

Last updated:

May 24, 2026, 01:02 PM

MLS#

5212544

Source:

OH NORMLS

About This Home

1471 E 118th Street

FULLY OCCUPIED 10 bedroom duplex in the heart of the thriving University Circle area!! This high performing duplex currently generates almost $65K in annual GROSS INCOME and over $55K in NET INCOME  yielding a 11.12% CAP RATE (details available upon request).  With strong cash flow and a premium location that is within minutes to CWRU (CWRU Safe Ride stop is only a few houses away), and convenient to University Hospitals, Cleveland Clinic, VA and Cleveland Institute of Music in an area that is GROWING in demand, this remodeled duplex is the perfect addition to any portfolio. The FURNISHED right side of duplex is currently fully leased by the room to students through August 15, 2026, generating $3130/mo. in rent.  The left-side duplex features the same spacious 5 bedroom/2 bath layout and is occupied by a great, long-term CMHA-assisted family that has been in place for 8 years.  The left side unit currently generates $2269/mo. with the tenant responsible for only $81/mo. There is also potential for a CMHA rent increase this November, adding more upside to this already strong-performing asset. Extensive capital investments ensure low-maintenance ownership in future: new roof (2024), new hot water heater on left side (2025), right side gutted and remodeled – new everything – bathrooms, kitchen, floors, walls, appliances, lighting and fixtures (2024), entire front porch rebuilt (2026), landscaping renovation (2026), left side gut renovated (2017). This is a standout opportunity for investors seeking IMMEDIATE CASH FLOW, strong rental history and long-term appreciation potential in one of Cleveland’s hottest rental areas.  Don’t miss out on this perfect blend of guaranteed, recession-proof CMHA income and the premium pricing power of furnished student housing! Property will transfer with a valid Lead Safe Certificate.

Home Facts

Multi-Family

4 Baths

10 Bedrooms

Built in 1910

Price Summary

499,900

MLS #:

5212544

Last Updated:

May 24, 2026, 01:02 PM

Added:

3 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

10

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

4


Structure

Structure

Year Built:

1910


Lot

Lot Size (Sq. Ft):

4,281


Finances & Disclosures

Finances

Price:

$499,900

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.