Six-Unit Apartment
For Sale
Contact for pricing
Pending
1327 West 67th Street, Cleveland, OH 44102
Multifamily property with a predominantly two-bedroom mix, basement laundry, and access to Gordon Square’s arts and commercial amenities.
Property Size4,502 SF
Days on Market175
Property Features for 1327 West 67th Street
General Information
Standard status
Pending
Size
4,502 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$45,263
Units
Unit Mix
5 x 2BR, 1 x 1BR
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Amenities
laundry
Building Details
Year Built
1900
Year Renovated
2025
Buildings
2
Stories
2
Units
6
Listing Agency:
Green Bridge Real Estate
Listed By:
Matthew King · License #BRK-20090002834
(216) 452-9292
Source:
Crexi
Added: Apr 24
Changed: Oct 6
Last Checked: Oct 14 at 8:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Green Bridge Real Estate
Investment Insights
Based on property information with market context.
Located at 1327 W 67th Street in Cleveland’s Gordon Square Arts District, this multifamily property comprises six units across two adjacent buildings. The unit mix includes five two-bedroom apartments and one one-bedroom apartment, with 5,582 SF of total building area. Both buildings include basements with laundry facilities. Additional features include gas forced-air heating, window A/C units, public water and sewer service, and on-street parking. The roofs were installed in 2022–2023, and the property is zoned Multi-Family.
The location places residents near Edgewater Park, Detroit Avenue, Capitol Theatre, Cleveland Public Theatre, Brewnuts, Luxe, The Union Food Market, and more than 100 locally owned businesses. The property is within the Gordon Square Special Improvement District, which provides services including landscaping, snow removal, graffiti cleanup, security patrols, sidewalk cleaning, trash removal, marketing, and community events. The property is fully occupied and has been operated as a long-term or short-term rental asset.
The location places residents near Edgewater Park, Detroit Avenue, Capitol Theatre, Cleveland Public Theatre, Brewnuts, Luxe, The Union Food Market, and more than 100 locally owned businesses. The property is within the Gordon Square Special Improvement District, which provides services including landscaping, snow removal, graffiti cleanup, security patrols, sidewalk cleaning, trash removal, marketing, and community events. The property is fully occupied and has been operated as a long-term or short-term rental asset.
Key Highlights
- Six units: five two‑bedroom apartments and one one‑bedroom apartment
- 5,582 SF across two adjacent buildings
- Roofs installed in 2022–2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,918
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$998,360
$998.4K
Cap Rate 7%
$713,114
$713.1K
Cap Rate 9%
$554,644
$554.6K
Market Conditions
NOI Build-Up for 4,502 SF
Gross rent
$94.5K $21.00/SF
− Vacancy
−$3.8K −$0.84/SF
EGI
$90.8K $20.16/SF
− OpEx
−$40.8K −$9.07/SF
NOI
$49.9K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$998,360
Cap Rate 7%
$713,114
Cap Rate 9%
$554,644
Alternative Uses
Best Use
Apartment 5plus
$713.1K
$624.0K – $832.0K
NOI $49,918 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$961.3K – $1.28M
NOI $76,904 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with a predominantly two-bedroom mix, basement laundry, and access to Gordon Square’s arts and commercial amenities.
Where is this apartment building located?
The property is located at 1327 West 67th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Six units: five two‑bedroom apartments and one one‑bedroom apartment; 5,582 SF across two adjacent buildings; Roofs installed in 2022–2023
