1548 Lakewood Ave. Lakewood, Ohio 44107, United States
The Multi Family House for Sale located at 1548 Lakewood Ave. Lakewood Ohio 44107 with 6 bedrooms, 2 bathrooms, 2 stories is currently for Sale, 1548 Lakewood Ave. Lakewood Ohio 44107 is listed for $325,000. If the property located at 1548 Lakewood Ave. Lakewood Ohio 44107 isn't what you're looking for, search Ohio Real Estate to see other Homes for Sale in Lakewood .
MLS#: 5073543
$325,000 USD
- Type
- Multi Family
- Bedrooms
- 6
- Bathrooms
- 2
- Home/Lot size
- 315m² (3,388ft²)
Property features
Key features
Construction details
- Year built
- 1914
- Roofing
- Shingle-Asphalt
- Style
- 2 stories
Area
- Property size
- 315m² (3,388ft²)
- Land/Lot size
- 445m² (0.11ac)
- Bedrooms
- 6
- Bathrooms
- 2
- Total rooms
- 8
- Cooling system
- Window Unit(s)Central AC
- Heating system
- SteamForced AirGas
Description
Welcome to 1548 Lakewood Avenue, a unique mixed use property in the highly desirable suburb of Lakewood. Opportunity awaits any savvy investor or business owner in this renovated multi unit property. Located on a primarily residential block between the businesses, storefronts, shopping, restaurants and nightlife on Madison and Detroit and easily accessible to the main traffic artery of W 117th St. at the border of Lakewood and Cleveland. The second floor of this multi unit property is currently home to a fully operating airbnb rental grossing an average of $2500 per month (up to $4K in summer months). This three bedroom unit includes the finished third floor and is fully furnished (all included) with a modern aesthetic, custom guardian mural and offers a large upper level balcony for renters to enjoy (deck, stairs and fence to be painted). The first floor unit was previously used as an office space at $1600 a month but has potential for several uses including a 3 bedroom long or short term rental. Long term market rent for the down unit - residential or office is around $1750-1850 while a short term rental is sure to bring in more. All office furnishings including desks, chairs tables, file cabinets, TV, printer and supplies included if desired. The building underwent a full renovation after the seller's purchase in 2017 including a full tear off and reroof. Other highlights include fully fenced yard, central air (down), large full basement with lots of room for storage, vinyl & glass block windows throughout, large off street parking area with room for at least 5 cars and all furnishings and appliances included in sale. Separate electric and gas meters for each unit. Mechanicals are newer / updated (excluding boiler) as well as flooring, paint & kitchen and bath remodels completed within the past 6-7 years. Opportunity is limited to walk into this type of cash flow potential and/or a brick and mortar business location in the booming market of Lakewood Ohio.
Location
v1.3.0