‘Predatory investing’ is obstructing efforts to improve housing in Cleveland: Stimulus Watch

Aerial view of Cleveland City Hall

Aerial of Cleveland City Hall, May 2022

CLEVELAND, Ohio -- No matter how much Cleveland housing officials tried, Oval Investments LLC wouldn’t budge.

The company, founded by Hawaii resident Mamoru Kobayashi, owes more than $35,000 in housing code violations, on the single-family home it owned on East 173rd Street, with fees at one point racking up at a rate of $1,000 per day. And before the property was sold in 2021, the company owed $28,000 in delinquent taxes – more than the purchase value of the house.

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