$1,000,000
About this home
Rare Lakewood Investment Opportunity! This exceptional multifamily offering features two fully occupied quadruplex buildings on a single parcel, providing investors with immediate cash flow in one of Northeast Ohio’s most sought-after rental markets. Currently operating at 100% occupancy, the property generates an impressive $8,655 per month in gross rental income. In addition to the eight residential units, the property includes a separate 4-car garage building with a substantial unfinished space above, presenting a compelling value-add opportunity. With the appropriate approvals, this expansive area offers the potential to create an additional 2-3 bedroom unit, allowing investors to further increase rental income and maximize returns. Located in highly desirable Lakewood, tenants enjoy convenient access to shopping, dining, entertainment, schools, parks, and downtown Cleveland. Opportunities to acquire a stabilized, income producing asset with built in upside potential in this market are increasingly rare. Whether you’re looking to expand your portfolio with a strong-performing asset or unlock additional value through adding a unit and increasing rents, this property offers the ideal combination of stable cash flow, prime location, and significant upside potential.
Property details
- MLS #
- 5226008
- Property type
- Apartment
- Subdivision
- Hiram M & C B Townsends Allot
- Status
- Active
- Days on market
- 4
- On market date
- July 17, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.2672 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 188
- Student:teacher ratio
- 10.4:1
- District
- Hope Academy Northwest Campus
- Enrollment
- 464
- Student:teacher ratio
- 15.0:1
- District
- Lakewood City
- Enrollment
- 187
- Student:teacher ratio
- 37.4:1
- District
- Lake Erie International High School
Walkability
Blended score for Lakewood's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Lakewood, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated July 21, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.