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1548 Lakewood Ave., Lakewood, OH 44107

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For Sale

$325,000

6 beds • 2 baths • 3,388 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 1914
    Year built

  • $95.93
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 5073543

Listed By CENTURY 21 DePiero & Associates, Inc.

Property Features

  • Age
    Over 50 Years Old
  • Basement
    Full
  • Cooling
    Window A/C, Central A/C
  • Fencing
    Fenced Yard, Metal Fence, Wood Fence
  • Garage Description
    No Garage
  • Heating - Fuel Type
    Gas
  • Heating Type
    Steam Heat, Forced Air
  • Lot Size
    Under 1/2 Acre, 0.11 Acres
  • Roof
    Asphalt Shingle Roof
  • Sewer
    City
  • Style
    2 Story
  • Water
    City Water

Map and Directions

Directions to 1548 Lakewood Ave., Lakewood, OH 44107

Home seller CENTURY 21 DePiero & Associates, Inc.

Get to know the neighborhood. A local affiliated CENTURY 21 team will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 DePiero & Associates, Inc.

Rose Salopek
Mark Vittardi

(440) 842-7010
Learn More About Us

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Monthly Payment Breakdown

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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