1327 W 67th St - Apartments FOR SALE


Cleveland, OH 44102- Gordon Square Arts District
$565,000 USD
440-552-5858
1327 W 67th St, Cleveland, OH for Sale
$565,000 USD
Apartments - FOR SALE
1/31
null | 8.4% Cap Rate


HIGHLIGHTS

  • 8.4% Cap Rate Asset: Offered at $565,000 ($94,166/unit) with a current Net Operating Income (NOI) of $47,463.
  • Immediate Value-Add Potential: Currently 100% occupied with below-market leases, providing an immediate path to organic revenue growth.
  • 2025 Complete Renovation: Turn-key property featuring a newer roof (front building) and recent high-end cosmetic refreshes across all six units.
  • Tenant-Paid Utilities: Landlord pays only water and sewer; separate meters shift all individual heating (gas) and electric expenses to tenants.
  • Prime Arts District Location: Nestled in the heart of Cleveland’s trendy Gordon Square, offering high walkability to retail, dining, & Edgewater Beach
  • Ancillary Income Opportunity: Low-maintenance .09-acre parcel includes on-site laundry facilities primed for immediate coin-op monetization.

OVERVIEW

Green Bridge Real Estate is pleased to exclusively present the Gordon Square Six Apartment Complex, a premier multi-family investment opportunity situated in the heart of Cleveland’s highly desirable, A-class Detroit-Shoreway / Gordon Square Arts District. Located at 1327 West 67th Street, this turn-key asset provides an exceptional blend of immediate cash flow, low-overhead management, and substantial value-add potential in one of the region's fastest-appreciating submarkets. Investment Highlights • Strong Financial Performance: Offered at $565,000 ($94,166 per unit), generating a current Net Operating Income (NOI) of $47,463 and an impressive 8.4% capitalization rate. • 100% Occupancy with Revenue Upside: Fully occupied on below-market leases, providing a clear path to organic revenue growth through transition to market-rate rents. • Extensively Renovated Asset: Originally constructed in 1900 and completely renovated in 2025, significantly minimizing near-term capital expenditure requirements. Recent upgrades include a cosmetic refresh across all units and a newer roof on the front building. • Favorable Utility Structure: Tenants pay individual electric and gas (heat), limiting landlord expenses strictly to water and sewer utilities. • Unrivaled Micro-Location: Positioned in a high-demand, walkable neighborhood celebrated for its rapid retail, culinary, and cultural growth. Residents enjoy seamless access to Edgewater Beach, local public transit lines, and Interstate 90. • Additional Monetization Pathway: Opportunity to capture immediate ancillary income by converting the existing free laundry facilities into a coin-operated system. Property Configuration The property is situated on a low-maintenance .09-acre parcel and features two distinct buildings totaling approximately 4,502 square feet: • Front Building (±3,358 Sq. Ft.): Comprises three (3) spacious 2-Bedroom, 1-Bathroom units and one (1) efficient Studio apartment. • Rear Building (±1,144 Sq. Ft.): Comprises two (2) private 2-Bedroom, 1-Bathroom units. Each of the six individual units is fully equipped with a furnished kitchen, central air conditioning, and an individually controlled forced-air furnace to maximize tenant comfort and retention. Take advantage of escalating rental demand in the Detroit-Shoreway corridor. This stabilized, low-maintenance asset is positioned perfectly for long-term equity growth and reliable yield.

FOR SALE DETAILS

PRICE

$565,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

6

PRICE/UNIT

$94,167

CAP RATE

8.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Gordon Square Six Apt. Complex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

2F

APN/PARCEL ID

002-09-095

ASK ABOUT THIS PROPERTY

Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

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Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.