- For Sale $570,000
- Property Type Multi-Family
- Property Size 1,824 SF
- Units 4
- Lot Size 0.4 Acre
- Year Built 1900
- Date Updated Jun 6, 2026
Description
Located along Pearl Road in the Brooklyn Centre / Old Brooklyn neighborhood, providing direct access to Downtown Cleveland, MetroHealth Medical Center, and key regional highways with strong walkable retail and transit amenities.4432 & 4438 Pearl Road are offered together as a portfolio — a great opportunity to acquire two fully renovated income properties in one turnkey transaction. 4432 is a stunning 5-bedroom, 2-bathroom single-family home — completely updated with new flooring, cabinets, bathrooms, electrical, plumbing, and HVAC throughout. Tenant pays all utilities. 4438 is a fully renovated 3-unit multifamily (3BD/1BA, 2BD/1BA, 2BD/1BA) with a new furnace (2025), brand new flat roof, and all underground plumbing redone. All 4 units are occupied with a professional property management company in place — just sit back and collect. Both properties are LEAD certified. Bonus: the basement at 4438 is framed, plumbed, and permit-ready for 1–2 additional units. Parking parcel between the two properties conveys with the sale. Appliances at 4438 convey; appliances at 4432 belong to the tenant. Strong cash flow from day one at an 8.06% current cap rate, with a clear path to 10.01% at market rents.
Highlights
- $45,910 current NOI | $57,070 pro forma NOI — $11,160/year in upside with zero capital required
- 4432 Pearl: tenant pays all utilities (water, gas, electric, sewer, internet) — landlord covers landscaping only
- 4438 Pearl: tenants pay flat $75/month utility fee — landlord covers water, sewer, electric, gas, and landscaping
- 8.06% current cap rate on $570,000 asking price — rising to 10.01% at pro forma market rents
- All 4 units occupied — immediate cash flow from day one, zero lease-up risk
- Appliances at 4438 convey with the sale
- Basement at 4438 is framed, plumbed underground, and permit-ready for 1–2 additional units
- Both properties completely renovated — new roof, plumbing, electrical, HVAC, kitchens, and baths across all units
- Both properties LEAD certified
- New furnace at 4438 installed 2025 | New flat roof at 4438 completely replaced
- Parking parcel between the two properties included in the sale
- Portfolio of two fully renovated income properties offered together as a single transaction — 4432 (SFR) and 4438 (3-unit multifamily)
- Professional property management company in place — fully turnkey acquisition
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Contacts
Kas Filippova
eXp Commercial
Location
Located at 4432 & 4438 Pearl Road, Cleveland, OH 44109, this property is part of the Old Brooklyn neighborhood and Cleveland Akron market.
Contact Listing Broker
Kas Filippova
eXp Commercial
