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Lakewood,OH 44107
Key Details
Property Type Single Family Home
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,516 sqft
Price per Sqft $125
Subdivision Gilbert
MLS Listing ID 5159354
Bedrooms 5
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,516
Total Fin. Sqft 2516
Year Built 1920
Annual Tax Amount $6,352
Tax Year 2024
Lot Size 6,943 Sqft
Acres 0.1594
Property Sub-Type Duplex
Property Description
Fantastic investment opportunity in the heart of Lakewood! This fully updated duplex delivers excellent cash flow with long-term tenants in place. The first-floor 2-bedroom unit is leased at $1,349/month through July 2026, while the upper 3-bedroom with finished attic is leased at $1,649/month through May 2026. Together, that's $2,998/month in rental income, with tenants also responsible for gas and electric, keeping owner expenses minimal.
Both units have been thoughtfully updated with Shaker cabinetry, quartz countertops, stainless steel appliances, luxury vinyl flooring, and modern bathrooms. The finished third floor adds valuable living space, while classic Lakewood charm remains with a welcoming front porch and balcony.
Major updates include newer roof, vinyl windows, modern light fixtures, and freshly painted interior and exterior. A detached two-car garage plus extra parking enhances tenant convenience and property value. Current tenants are on fixed leases but may consider going month-to-month for the next owner, offering flexibility for investors or potential owner-occupants.
Location
State OH
County Cuyahoga
Rooms
Basement Full,Unfinished
Interior
Heating Forced Air,Gas
Cooling Central Air
Fireplace No
Appliance Dishwasher,Range,Refrigerator
Laundry Common Area
Exterior
Parking Features Detached,Garage,Paved
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Garage true
Private Pool No
Building
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Lakewood Csd (Cuyahoga)- 1817
Others
Tax ID 314-25-106
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition Standard