11206 Ashbury Avenue Cleveland, OH 44106

Property Description

This exceptional income-producing duplex features 2 expansive units, each offering 5 bedrooms and 2.5 bathrooms, currently generating $6,400 per month in gross rental income. With a documented 2025 net operating income of $52,808, the property delivers an impressive cap rate exceeding 9.1% at the current asking price ? a rare find in one of Cleveland's most consistently in-demand rental markets, just a short walk from Case Western. Even more compelling, the property is currently outperforming projections in 2026 and tracking at an estimated 9.8% cap rate year-to-date. Detailed financials are available upon request, providing full transparency into income and expenses, including taxes, insurance, landlord-paid utilities, property management, maintenance, and repairs, allowing investors to truly appreciate the strength and stability of this asset. In 2022, the property underwent extensive renovations transforming it into a high-end rental offering. Improvements include fully remodeled kitchens, refinished hardwood floors, added and updated bathrooms, new tankless hot water heaters, and numerous additional upgrades throughout both units. With current leases extending through June 2027, this investment offers immediate stability with significant upside potential. Upon lease expiration, rents could reasonably be increased to $4,000+ per side to align with comparable high end student housing in the area, further strengthening returns.Tenant turnover has historically been seamless in the area, with outgoing tenants frequently referring incoming renters, creating a highly dependable leasing pipeline. For added peace of mind, the current owner is committed to delivering the property fully lead-safe certified in compliance with city regulations prior to transfer. Opportunities to acquire a low-maintenance, high-cash-flow asset of this caliber in such a sought-after location are exceedingly rare. Don't miss the chance to add this true crown jewel investment to your portfolio.

Property Features

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