The Gordon Square Six Apt. Complex 1327 W 67th St 6 Unit Apartment Building $599,000 ($99,833/Unit) 7.57% Cap Rate Cleveland, OH 44102

Green Bridge Real Estate is pleased to offer the Gordon Square Six Apartment Complex located in the heart of Cleveland’s trendiest, A-Class, Westside, Detroit-Shoreway/Gordon Square neighborhood. Located at 1327 West 67th Street, Cleveland, Ohio 44102, the property consists of an approx. 3,358 sq.ft. Four Unit Front Building and an approx. 1,144 Sq.ft. Two Unit Rear Building both built in 1900 and renovated in 2025 on an approx. .09 acre parcel.
The Four Unit Front Building consists of 3 Two Bedroom, One Bath Units and 1 Studio. The Two Unit Rear Building consists of 2 Two Bedroom, One Bathroom Units. Ideal Stabilized Apartment Complex with very low management and maintenance. Each of the units feature a furnished kitchen, and an individually controlled forced air furnace, and Central A/C. Recent Improvements include Newer Roof on the Front Building and all units received a cosmetic refresh. Owner pays only water & sewer. Tenant paid gas (heat) and electric. Currently 85% Occupied (5 of 6) with Under Market leases, offering revenue growth potential by increasing current Rents to Market Rates. Opportunity to monetize the laundry area by converting currently free machines to coin-operated machines. The Current Net Annual Operating Income is $35,675 or a 5.96% Capitalization rate at the asking price of $599,000 ($99,833 per unit).
Location, Location, Location! Positioned perfectly in one of Cleveland’s premier neighborhoods which has benefitted from the recent culinary and retail explosion. The tenants benefit from the buildings location near numerous retail and restaurant locations, access to Interstate 90, public transit lines and Edgewater Beach. Capitalize on the soaring rental rates of the Detroit-Shoreway area and continue to enjoy the area’s rapid appreciation with this Turn-Key asset!