Offering Summary-PRICE REDUCTION
Presenting a classic 4 story brick walkup building in the heart of Lakewood, Ohio. The property is a nice mix of spacious large one and two bedroom units, with comfortable living areas. Large windows throughout the building provide tenants with nice views of the surrounding area. One additional unit possible in lower level, that is already plumbed and ready to build out. A new boiler and new windows highlight the recent capital improvements on this property.
Submarket Overview
Lakewood is located along the shore of Lake Erie, about 10 miles west of Cleveland's Public Square. Lakewood offers the amenities of city living with the charm of a small town. Tenants live within walking distance of local shops, public transportation and restaurants.
Submarket Demographics |
| Submarket Population: | 56,646 |
| Renter Occupied Housing: | 51.5% |
| Submarket Trend: |
 Stable
|
Property Facts |
| Location: | 12933 Clifton Ave, Lakewood, OH |
| Number of Units: | 23 |
| Offering Price: | $899,000 |
| |
| Net Operating Income: | 74435 |
| Cap Rate: | 8.28% |
| Building Occupancy: | 93% |
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| Unit Mix: |
| Units | Type |
Avg. Rent |
| 13 | 1 Bedroom | 565 |
| 10 | 2 Bedroom | 625 |
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