Wanted to put a new off-market opportunity in front of you that I think could be a strong fit — a 21-unit multifamily asset at 20000 Van Aken Boulevard in Shaker Heights, Ohio (Farnsleigh Crossing). Quick background on how we work these multifamily opportunities: we source and operate value-add multifamily in Northeast Ohio, and on deals like this, we partner with a capital partner who funds the acquisition while our team handles everything else — the purchase, the management transition, the business plan, and all ongoing operations. It is a hands-off way to own a piece of a value-add deal in a strong submarket with an experienced operator running the day-to-day. Here is why I like this one: The property sits one block from the Van Aken District, a $110M+ mixed-use redevelopment that anchors one of Cleveland's strongest rental submarkets. It is 21 units — 5 one-bedrooms and 16 two-bedrooms — currently around 90% occupied and producing about $163K in trailing 12-month NOI. The current owner is self-managing with no professional management in place, which is the primary operational opportunity from day one. The seller is between $85,000 and $90,000 per door (roughly $1.785M to $1.89M). For context, the broker wants to start marketing it at $102,231 a door if they were to take this to the market but for now we have this opportunity off-market, and the most comparable trade in the broker's own data set came in around $80K a door — so we are entering at a reasonable, well-supported basis with real room to create value. At these prices, the going-in cap rate on in-place income is between 8.6% and 9.1%, which is a strong yield before we do anything. The business plan is straightforward and conservative — reduce expenses first, then grow rents gradually: — Eliminate the ~$17,500 bulk cable expense in year one — Phase in a RUBS program to recover toward 50% of the ~$67,000 in owner-paid utilities over time