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$2,055,000
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Property Description
Extremely rare opportunity to acquire a fully cash-flowing, stabilized 39-unit portfolio across 13 properties in the Cleveland market. Located in strong submarkets known for steady demand and appreciation. Currently ~90% occupied, with four units in lease-up to subsidized tenants-expected to be fully leased by closing. Includes 26 Section 8 tenants providing reliable, government-backed income. All gas/electric paid by tenants; owner covers only water/sewer. Professional management in place for seamless transition. Once fully occupied, projected 10%+ CAP, with upside to 13%+ CAP / 20%+ cash-on-cash through rent alignment. Turnkey Cleveland portfolio delivering immediate income and long-term growth.
Full Property Details
Full Property Details for 2883 E 114th St
General
- Sold For: $2,055,000
- Taxes: $22,640 (2024)
- Status: Closed
- Type: Commercial
- Source: 505
- MLS ID: 5165403
- Added to Site: 126 day(s) ago
Location
- County: Cuyahoga
- Township: Cleveland
- Subdivision: Harvey Rice Jr S Sub
- Driving Directions: Various locations in Cleveland
School Information
- Elem School District: Cleveland Municipal - 1809
- Midd School District: Cleveland Municipal - 1809
- High School District: Cleveland Municipal - 1809
Heating & Cooling
- Heating Type: Forced Air
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Current Bldg. Use: Multi-Family, Residential, Single Family
- Year Built: 1926
- Year Built Source: Public Records
Lot Features
- Lot Size (Acres): 1.55
- Lot Size: 1.55
- Lot Size Source: Assessor
Financial Considerations
- Tax Amount: $22,640
- Tax Year: 2024
- Terms: Cash, Conventional, 1031 Exchange
Disclosures and Reports
- Special Conditions: Standard
- Legal Description: 427 RICTR 0043 ALL
- Property ID: 128-29-006
Listed and Sold by Russell Real Estate Services, Tal Tamir
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Schools
Schools serving 2883 E 114th St
School District:Cleveland Municipal School District
| Name | Grades | Distance |
|---|---|---|
Harvey Rice Elementary School 2730 East 116th, Cleveland, OH 44120 | PK-8 | 0.4 mi |
Sunbeam 11731 Mount Overlook Avenue, Cleveland, OH 44120 | PK-8 | 0.7 mi |
Bolton 9803 Quebec Avenue, Cleveland, OH 44106 | PK-8 | 1.2 mi |
Nathan Hale School 3588 Martin Luther King Junior Drive, Cleveland, OH 44105 | PK-8 | 1.4 mi |
Anton Grdina 2955 East 71st Street, Cleveland, OH 44104 | PK-8 | 1.7 mi |
Charles Dickens School 13013 Corlett Ave, Cleveland, OH 44105 | PK-8 | 1.8 mi |
Andrew J Rickoff 3500 East 147th Street, Cleveland, OH 44120 | PK-8 | 1.8 mi |
Mary B Martin School 8200 Brookline Avenue, Cleveland, OH 44103 | PK-8 | 2.3 mi |
East Technical High School 2439 East 55th Street, Cleveland, OH 44104 | 9-12 | 2.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2883 E 114th St
Date
Details
Price
Change
Source
2/24/2026
Sold
$2,055,000
-8.67%
MLS
10/22/2025
Listed
$2,250,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2883 E 114th Street, Loveland, OH 44104 (MLS# 5165403) is a Commercial property that was sold at $2,055,000 on February 24, 2026. Want to learn more about 2883 E 114th Street? Do you have questions about finding other Commercial real estate for sale in Loveland? You can browse all Loveland real estate or contact a Coldwell Banker agent to request more information.

