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Under contract
  • $235,000

    6729 Forman Ave, Cleveland, OH 44105

    8beds
    --sqft
    : 
    Quadruplex, Multi Family
    Built in 1910
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Modern kitchensNew lvp flooringUpdated mechanicals
    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.
    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#: 5129112MLS LogoOriginating 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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