Pending

Listing Tools

Rarely does a property this well-positioned and well-built come to market in Cleveland Heights. This all-brick eight-unit building sits directly in the heart of Coventry Village, one of Greater Cleveland's most culturally vibrant neighborhood corridors. At $725,000 (just $90,625 per door), you are acquiring a hardened asset in a submarket where tenants plant roots and stay for years. Two units are vacant and actively being marketed, and once those lease up, you're looking at a stabilized effective gross income of $117,000 annually, already accounting for 5% vacancy. The real upside is clearly defined. Six of the eight units are oversized three-bedroom, one-bath apartments with a bonus room functioning as a fourth bedroom, an extremely rare floor plan that has been chronically underrented for years. Beautiful hardwood floors run throughout, the building features a newer boiler, updated electrical, vinyl windows, and on-site laundry for additional passive income. As leases turn and rents reach market, effective gross income rises to over $135,000 annually and NOI climbs to $61,835, an 8.83% proforma cap rate on the same $725,000 basis. The two basement two-bedroom units represent a clear cosmetic value-add layer on top of that organic rent growth. Then there's the parking. Garage parking at the rear is nearly impossible to find in Coventry and functions as both a retention tool and premium driver for the tenant profile you want here. Steps from the Grog Shop, Tommy's, Pacific East, and the B-Side Lounge, and minutes from the Cleveland Museum of Art, Severance Hall, and Little Italy. Cleveland Clinic, University Hospitals, and Case Western sustain a deep pool of professional renters within a five-minute drive, the workforce renter who values walkability and secure parking stays three years, not one. At $90,625 per door on an all-brick building with a clear path to an 8.83% proforma cap rate, this is a genuinely rare opportunity. Properties like this don't sit long.

Property Details of 2729 Euclid Heights Boulevard

Property Details

Exterior Features

Utilities and Appliances

Community

Other Details

Map Location

Listed by Russell Real Estate Services

Based on information submitted to MLS Now as of May 16, 2026 8:28 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

I agree to receive marketing and customer service calls and text messages from Ken Mills. To opt out, you can reply 'stop' at any time or click the unsubscribe link in the emails. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Privacy Policy.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

$

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.