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6729 Forman Avenue, Cleveland, OH 44105

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For Sale
Sale Pending

$235,000

8 beds • 4 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

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.
MLS# 5129112

Courtesy Of KW Living

(440) 318-1620

Property Features

  • Age
    Over 50 Years Old
  • Heating System
    Forced Air
  • Lot Size
    0.12 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement

Map and Directions

Directions to 6729 Forman Avenue, Cleveland, OH 44105

Home seller CENTURY 21 HomeStar

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 HomeStar

(440) 449-9100
Learn More About Us

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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