Are you looking for the perfect real estate investment opportunity? Then look no further, SVN | SFRhub Advisors presents the best of the best, our featured single-family residential portfolios and Build-For-Rent Portfolios For Sale, all residing in the hottest real estate markets across the nation, providing the maximum ROI possible. Make sure to check out each single-family rental investment portfolio or build-for-rent investment portfolio to learn more about the demographics, property, location and financial overview. Each of these single-family rental portfolios is an opportunity of a lifetime, so don’t miss out!
- High projected cap rate of 11.62%
- Projected NOI of $60,971
- Value add opportunity through raising rents to market rates, improved occupancy, and moderate expense cuts
- Seven of the eight homes are currently rented
- The portfolio is currently 12% below market rents offering an investor excellent growth opportunity
- Opportunity for investors to purchase a portfolio of homes below the area’s median values, improve and capture the significant upside potential
- Cleveland’s average single-family rent in 2019 is $982 and is projected to continue a steady growth through 2022 according to JBREC
- 58.2% of Cleveland’s population currently rents & Forbes recently ranked Cleveland as one of the top 15 emerging downtown cities in the country
- Single-family detached homes are the single most common housing type in Cleveland, accounting for 46.50% of the city’s housing
This 10 home single-family residential investment portfolio is located 23 miles southwest of downtown Cleveland, in the Elyria area. Cleveland is the second-largest city in the state of Ohio and is the 28th-largest metropolitan area in the United States. Rental properties are in high demand as 58.2% of the population are currently renters instead of homeowners, according to the 2017 US Census. The portfolio is comprised of properties in, but not limited to, Lorain, Elyria, and Avon Lake, all suburbs of the greater Cleveland MSA. This portfolio offers an investor immediate cash flow in the Greater Cleveland market, currently operating at with only one vacancy and is in rent-ready condition for market rent. This portfolio can be packaged for an investor with any of our other portfolios in Cleveland, as well as throughout the country. The average vintage of the homes is 1925, and the majority were remodeled in 2016. The average square footage per home is 1,400 square feet. This portfolio offers an efficient mix of two, three and four-bedroom homes, providing options for residents of different family sizes. The mix of floor plans ranges from 608 to 2,514 square foot living area, averaging out at 1,400 square feet. Rents throughout the portfolio are on average $872 per month, which are projected to be raised to market rates that average $938, nearly a 12% average rent increase. Rental growth in this submarket is continuing to increase and will contribute to an investor’s bottom-line growth after the acquisition. This 8 home SFR investment portfolio is listed at a value of only $47 per square foot, compared to the median list price of $70 per square foot in the Cleveland market, creating a value-add opportunity for an increased return at disposition. Cleveland home values have gone up 2.3% over the past year and are expected to continue rising.
Go to SFRhub.com to learn more about this incredible single-family rental portfolio for sale.
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Contact Jeff Cline at SVN | SFRhub Advisors
SVN | SFRhub Advisors
2400 E. Arizona Biltmore Circle
Phoenix, AZ 85016