Offering Summary
1614 Lakewood Avenue is an 8 unit apartment building situated in the middle of Lakewood, OH. Plenty of off-street parking and under market rents provide room for upside potential. Property has 6 one-bedroom units and 2 two-bedroom units. Property has all new windows and glass block installed in basement windows.
Submarket Overview
Lakewood sits on Cleveland's west side and is one of the nation's most highly populated renter population - all within only ~3 square miles of its City limits. Several new residential in-fill developments, retail developments and parks for residents.
Submarket Demographics |
| Submarket Population: | 56,646 |
| Renter Occupied Housing: | 51.50% |
| Submarket Trend: |
 Up
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Property Facts |
| Location: | 1614 Lakewood Avenue, Lakewood, OH |
| Number of Units: | 8 |
| Offering Price: | $256,000 |
| |
| Net Operating Income: | $20,480 |
| Cap Rate: | 8.00% |
| Building Occupancy: | 100% |
| Year Built: | 11/28/2007 |
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| Unit Mix: |
| Units | Type |
Avg. Rent |
| 6 | 1 Bedroom | $ 461 |
| 2 | 2 Bedroom | $ 485 |
|
