Commercial Real Estate for Sale at 8213 Ivandale Drive in Parma, OH for $1,220,000

Listing data last changed 8/15/2025
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8213 Ivandale Drive | Parma

$1,220,000 | 0.0 Sq. Ft.

This 7-property, 8-unit single-family portfolio is located across some of Northeast Ohio\u2019s most desirable suburbs, including Parma, North Olmsted, Brook Park, South Euclid, and University Heights. Fully occupied and generating $12,074/month in rent, the current NOI is $79,649 with a pro forma NOI of $104,356, supporting a cap rate of 6.53% as-is and 9.20% pro forma. Pro forma cash-on-cash return is 23%, with over $25K in annual rent upside. Tenants pay all utilities, except water/sewer in the duplex. Estimated ARV is $1.74M, backed by strong neighborhood comps averaging $143K per home, offering over $500K in potential equity when resold individually to homeowners. Recent capital improvements include three new hot water tanks, a new furnace, a $12K rent-ready renovation at 8213 Ivandale, and a $7K shower upgrade at Raymont. CapEx accounts for over 50% of reported repair costs, allowing immediate expense reduction under new management. Properties are located in high-demand zip codes with fast-moving resale markets, proven homeowner demand, and long-term appreciation. Property breakdown includes: 8213 Ivandale, Parma \u2013 4 bed / 2 bath, 1,910 sq ft (ARV $243K); 1474-76 Sherbrook, South Euclid \u2013 7 bed / 3 bath duplex, 3,555 sq ft (ARV $250K); 3852 Grosvenor, South Euclid \u2013 3 bed / 1 bath, 1,589 sq ft (ARV $170K); 4647 Sellhurst, North Olmsted \u2013 3 bed / 1 bath, 1,237 sq ft (ARV $300K); 6113 Michael, Brook Park \u2013 3 bed / 2 bath, 1,036 sq ft (ARV $250K); 3901 Warrendale, South Euclid \u2013 4 bed / 2 bath, 1,598 sq ft (ARV $250K); and 3582 Raymont, University Heights \u2013 4 bed / 2.5 bath, 1,728 sq ft (ARV $275K). Rent roll and financials included in the due diligence package attaches. No showings until accepted offer. Seller has two additional portfolios and two single-family homes available. Inquire for bulk pricing or multi-portfolio opportunities. This is a clean, stable portfolio with location, income, equity, and multiple exit strategies. MLSNow 5148371

Directions to property: not Olmsted, parma, brook park, university heights and south Euclid

MLS Listing ID: 
MLSNow 5148371
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,220,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Other
Primary Market Area: 
Parma
Address: 
8213 Ivandale Drive, Parma, OH 44129
County: 
Cuyahoga
Latitude: 
41.3937180
Longitude: 
-81.7420110
Directions: 
not Olmsted, parma, brook park, university heights and south Euclid
Public Remarks: 
This 7-property, 8-unit single-family portfolio is located across some of Northeast Ohio\u2019s most desirable suburbs, including Parma, North Olmsted, Brook Park, South Euclid, and University Heights. Fully occupied and generating $12,074/month in rent, the current NOI is $79,649 with a pro forma NOI of $104,356, supporting a cap rate of 6.53% as-is and 9.20% pro forma. Pro forma cash-on-cash return is 23%, with over $25K in annual rent upside. Tenants pay all utilities, except water/sewer in the duplex. Estimated ARV is $1.74M, backed by strong neighborhood comps averaging $143K per home, offering over $500K in potential equity when resold individually to homeowners. Recent capital improvements include three new hot water tanks, a new furnace, a $12K rent-ready renovation at 8213 Ivandale, and a $7K shower upgrade at Raymont. CapEx accounts for over 50% of reported repair costs, allowing immediate expense reduction under new management. Properties are located in high-demand zip codes with fast-moving resale markets, proven homeowner demand, and long-term appreciation. Property breakdown includes: 8213 Ivandale, Parma \u2013 4 bed / 2 bath, 1,910 sq ft (ARV $243K); 1474-76 Sherbrook, South Euclid \u2013 7 bed / 3 bath duplex, 3,555 sq ft (ARV $250K); 3852 Grosvenor, South Euclid \u2013 3 bed / 1 bath, 1,589 sq ft (ARV $170K); 4647 Sellhurst, North Olmsted \u2013 3 bed / 1 bath, 1,237 sq ft (ARV $300K); 6113 Michael, Brook Park \u2013 3 bed / 2 bath, 1,036 sq ft (ARV $250K); 3901 Warrendale, South Euclid \u2013 4 bed / 2 bath, 1,598 sq ft (ARV $250K); and 3582 Raymont, University Heights \u2013 4 bed / 2.5 bath, 1,728 sq ft (ARV $275K). Rent roll and financials included in the due diligence package attaches. No showings until accepted offer. Seller has two additional portfolios and two single-family homes available. Inquire for bulk pricing or multi-portfolio opportunities. This is a clean, stable portfolio with location, income, equity, and multiple exit strategies.
Community Information
School District: 
Parma CSD - 1824
Subdivision: 
Ridgewood 03
Building Details
Details about the building on a property.
Year Built: 
1951
Living Area: 
0.0
Basement: 
Other
Construction
Roof: 
Asbestos Shingle
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air
Cooling System: 
Central Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
1.16
Lot Size (Area): 
1.16
Lot Features
Parking Type: 
Driveway,Garage
Public Record
Parcel Number: 
449-15-084
Annual Tax: 
$21,737.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Erin Thomas
Listing Office Name: 
Keller Williams Living

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