4438 Pearl Rd
Cleveland, OH 44109
Pearl Road Portfolio · Propriété À vendre · 7 968 pi² Total

4432 and 4438 Pearl Road portfolio comprises a fully renovated single-family residence (4432) and a three-unit multifamily building (4438), delivering $63,900 in current gross annual income and $45,910 in current net operating income (NOI).
At pro forma market rents, gross income rises to $75,060 and NOI to $57,070 — a 10.01% cap rate on the $570,000 asking price — representing $11,160 in immediately accessible upside with no additional capital investment required. Both properties have been extensively renovated across all major systems, eliminating near- term capital expenditure risk. Both properties are LEAD certified, and a professional property management company is currently in place, allowing for a turnkey acquisition with zero operational disruption.
An additional value-add opportunity exists at 4438 Pearl Road, where the basement is fully framed, plumbed underground, and permit-ready for one to two additional units. Executing this expansion would push stabilized value to $835,000–$947,000 at an 8% cap rate — a potential $265,000–$377,000 gain above the asking price.
4432 Pearl Road is a five-bedroom, two-bathroom single-family residence that has been completely and comprehensively renovated. All flooring, cabinetry, and bathrooms have been replaced throughout. Electrical and plumbing systems have been fully redone and updated. HVAC has been replaced with only the condenser remaining as a known future item (estimated $3,000–$5,000). The home is currently occupied by a long-term tenant.
4438 Pearl Road is a three-unit multifamily building offering a strong combination of current cash flow and embedded upside. All three units — Unit A (3BD/1BA), Unit B (2BD/1BA), and Unit C (2BD/1BA) — have been completely renovated, including new flooring, cabinets, paint, bathrooms, and kitchens. A new furnace was installed in 2025. The entire flat roof has been completely replaced. All underground plumbing has been fully redone.
The parking area between 4432 and 4438 is a separate parcel.
The Pearl Road Portfolio is ideally positioned along Pearl Road in the Brooklyn Centre / Old Brooklyn neighborhood of Cleveland, Ohio — one of the city's most stable and in-demand residential corridors for rental investment. Pearl Road is a primary north-south arterial offering direct connectivity to Downtown Cleveland (approximately 5 miles north), Parma, and the broader southwest suburbs.
The immediate trade area is characterized by a dense mix of owner-occupied and rental housing with strong long- term occupancy fundamentals. The neighborhood benefits from proximity to MetroHealth Medical Center, one of Cleveland's largest employers, as well as convenient access to I-480 and I-71 — making the location highly accessible for working tenants across the metro.
Retail amenities, restaurants, and neighborhood services are available within walking distance along Pearl Road and adjacent corridors. Public transit access is strong, with multiple RTA bus routes serving the area. The location attracts stable, long-term tenants and supports consistent rental demand across all unit types in the portfolio.