2729 Euclid Heights Boulevard, Cleveland Heights, OH 44106

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2729 Euclid Heights Boulevard, Cleveland Heights, OH 44106 | MLS ID 5197568 - Hardcastle Realty

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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.

Information

Address:
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2729 Euclid Heights Boulevard
Cleveland Heights, OH 44106

Subdivision: Euclid Heights Allotment

Area/School Dist: Cleveland Heights

MLS ID: 5197568

Status: Pending

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Features

Taxes: $18,756 / year
Basement: Yes
Roof Type: Composition,Flat
Lot Size: 0.20 Acres
Heating: Hot Water,Steam
Cooling: None
Year Built: 1920
Water: Public
Sewer: Public Sewer
Stories: 4.0
Units: 8
Basement: Full
Parking: Detached,Garage
Parcel#: 685-11-023

School Information

School District: Cleveland Hts-Univer - 1810

Mortgage Information

Agency/Agent Information

Shown By:
  Agency Name: Hardcastle Realty
  Agency Phone:

Listed By
   Russell Real Estate Services
  Agency Phone: 440-201-9850

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 06/14/2026. The listing information on this page last changed on 06/14/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sun 06/14/2026 12:23:05 AM EST) or MLS NOW (last updated Sun 06/14/2026 12:17:39 AM EST). Real estate listings held by brokerage firms other than Hardcastle Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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