High-yield, turnkey 4-unit property at 6729 Forman Ave—fully renovated less than two years ago with new LVP flooring, modern kitchens and baths, updated mechanicals, and a 2-car garage. This asset is cash flowing now at $2,434/month. Section 8 offers $1129 for 2 bed units in this area, driving the proforma to over $4,400+/month. Expenses run around 40%, keeping your net returns strong, and once fully leased the property projects a cap rate near 20%—rare in today’s market. One vacant unit allows for immediate value-add, without capital investment—simply lease it up and raise rents to market. This brings immediate NOI to @25k/year or a 10.6% cap rate. Mechanicals and electric panels are all less than 2 years old! Tenants pay gas & electric. Recent neighborhood sales at 3893 E 57th ($87,500/unit) and 3620 E 59th ($90,000/unit) show the real upside here. Located in a stable Cleveland neighborhood near employers, transit, shopping, and schools—easy to attract and retain quality tenants. Turnkey, low-maintenance, high yield, and poised for fast appreciation. Opportunities like this don’t last—contact us today for details and a tour.
Under contract
$235,000
6729 Forman Ave, Cleveland, OH 44105
8beds
--sqft
Est.:
Quadruplex, Multi Family
Built in 1910
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Modern kitchensNew lvp flooringUpdated mechanicals
- 56 days
- on Zillow |
- 9 |
- 1 |
Zillow last checked: 7 hours ago
Listing updated: June 20, 2025 at 06:17am
Listing Provided by:
Erin Thomas Erinthomas@kwcommercial.com440-670-2300,
Keller Williams Living
Source: MLS Now,MLS#: 5129112
Originating MLS: Akron Cleveland Association of REALTORS

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Forced Air
Cooling
- None
Features
- Basement: Unfinished
Video & virtual tour
Property
Parking
- Parking features: Driveway, Detached, Garage
Features
- Levels: Two
- Stories: 2
Lot
- Size: 5,127.01 Square Feet
Details
- Parcel number: 13207080
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Aluminum Siding
- Roof: Asphalt,Fiberglass
Condition
- Year built: 1910
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: A W Morgans
Location
- Region: Cleveland
Financial & listing details
- Annual tax amount: $3,996
- Date on market: 6/11/2025
- Tenant pays: Electricity, Gas
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