6729 Forman Avenue, Cleveland, OH 44105 - Cuyahoga County

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. 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.

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