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6729 Forman Avenue, Cleveland, OH 44105

Local realty services provided by:CENTURY 21 Premiere Properties
6729 Forman Avenue,Cleveland, OH 44105
$225,000
  • 8 Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: erin thomas
Office: keller williams living
MLS#:5129112
Source:OH_NORMLS

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Price summary

  • Price:$225,000

About this home

We appraised. We were ready to close and the buyer just disappeared. After 30 days of waiting, his loss is now your gain. This High-yield, turnkey 4-unit property at 6729 Forman Ave was 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.

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Home facts

  • Year built:1910
  • Listing ID #:5129112
  • Added:190 day(s) ago
  • Updated:December 19, 2025 at 07:18 AM

Rooms and interior

  • Bedrooms:8
  • Total bathrooms:4
  • Full bathrooms:4

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Asphalt, Fiberglass
  • Year built:1910

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$225,000
  • Tax amount:$3,996 (2024)
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