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883 Alhambra Rd
883 Alhambra Rd
Cleveland, Ohio 44110
About
Property originally listed for sale on the marketplace by 883 Alhambra LTD.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 2/15/2025:
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$16,089) is below half full.
Once the property is rented, owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($2,750), and then apply 50% of cash flow until the reserve is full ($5,500).
Based on the projected monthly cash flow ($271) if the lower unit is also rented (assuming rent at $895/month), it will take ~69.5 months for the reserve to be half full and ~20.3 additional months to go from half full to full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
This property received a loan from the Universal Lending DAO for $155.90.
2-Unit Property (Duplex) located in Cleveland, Ohio.
Details
- Renovated in November 2021. View full list of renovations here
- Lower unit: Has kitchen, two bedrooms and full bath, living room, dining room, and front porch
- Upper unit: has second and third floor, kitchen, three bedrooms and full bath, living room, dining room, and porch
- Upgrade includes: Exterior & Interior painting, some new plumbing fixtures & light fixtures, new carpeting, new vinyl flooring in kitchen and bathroom, new hot water tank, some newer windows. The furnaces have been serviced in good condition and inspected by a licensed HVAC expert.
- The location is convenient to shopping, churches, employment opportunities and more. This property is near historic five points Collinwood to the West, City of Euclid to the East and Interstate 90 and Great Lake Erie to the North.
- Basement is 900 square feet with laundromat
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- Lower Unit (881 Alhambra)
- Vacant
- Upper Unit (883 Alhambra) (Delinquent)
- Tenant owes a balance of $3,319.21
- 1 year lease (10/28/2023 - 10/27/2024)
- $795/month
- The tenant elected to purchase a surety bond amounting to $1,590 in lieu of the security deposit.
- The tenant is responsible for all utilities.
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Inspection Report Repairs
- Renovations and Updates
- Purchase Agreement
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Cleveland, Ohio
Cleveland, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
The closing date has been extended to 2/14.
The Buyer is out of the country on a military assignment.
They were not able to make it into the US Embassy office to sign prior.
They will be back in the country on 2/14 and will sign the closing docs then.
Text Exchange from Buyer's Agent
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$0
Monthly Rent
$1,324
Monthly Expenses
-$1,324
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.
About this offering
Returns
Monthly Operating Statement
Order book
Trading has not opened yet
The order book appears once this property reaches the secondary market and investors can place buy and sell orders.
Share price
$49.12
883 Alhambra Rd
Cleveland, Ohio 44110
About
Property originally listed for sale on the marketplace by 883 Alhambra LTD.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 2/15/2025:
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$16,089) is below half full.
Once the property is rented, owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($2,750), and then apply 50% of cash flow until the reserve is full ($5,500).
Based on the projected monthly cash flow ($271) if the lower unit is also rented (assuming rent at $895/month), it will take ~69.5 months for the reserve to be half full and ~20.3 additional months to go from half full to full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
This property received a loan from the Universal Lending DAO for $155.90.
2-Unit Property (Duplex) located in Cleveland, Ohio.
Details
- Renovated in November 2021. View full list of renovations here
- Lower unit: Has kitchen, two bedrooms and full bath, living room, dining room, and front porch
- Upper unit: has second and third floor, kitchen, three bedrooms and full bath, living room, dining room, and porch
- Upgrade includes: Exterior & Interior painting, some new plumbing fixtures & light fixtures, new carpeting, new vinyl flooring in kitchen and bathroom, new hot water tank, some newer windows. The furnaces have been serviced in good condition and inspected by a licensed HVAC expert.
- The location is convenient to shopping, churches, employment opportunities and more. This property is near historic five points Collinwood to the West, City of Euclid to the East and Interstate 90 and Great Lake Erie to the North.
- Basement is 900 square feet with laundromat
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- Lower Unit (881 Alhambra)
- Vacant
- Upper Unit (883 Alhambra) (Delinquent)
- Tenant owes a balance of $3,319.21
- 1 year lease (10/28/2023 - 10/27/2024)
- $795/month
- The tenant elected to purchase a surety bond amounting to $1,590 in lieu of the security deposit.
- The tenant is responsible for all utilities.
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Inspection Report Repairs
- Renovations and Updates
- Purchase Agreement
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Cleveland, Ohio
Cleveland, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
The closing date has been extended to 2/14.
The Buyer is out of the country on a military assignment.
They were not able to make it into the US Embassy office to sign prior.
They will be back in the country on 2/14 and will sign the closing docs then.
Text Exchange from Buyer's Agent
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$0
Monthly Rent
$1,324
Monthly Expenses
-$1,324
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.