$369,900
About this home
Excellent investment opportunity in Shaker Heights! This well-maintained multifamily property at 18518 Newell Road offers strong existing income, quality tenancy, and recent capital improvements. The property is currently leased and generating more than $4,200 per month in rental income, providing immediate cash flow for the next owner. The units are currently utilized by Beechmont Country Club, offering the benefit of an established, reputable tenant and an attractive rental history. Recent improvements include plumbing upgrades in both bathrooms along with updated kitchens featuring stainless steel appliances. The property also includes a highly desirable three-car garage, providing ample parking and additional functionality for tenants. Located in sought-after Shaker Heights, this is an excellent opportunity for an investor looking to acquire a stabilized multifamily asset with strong existing income, credible tenancy, recent improvements, and continued long-term potential. Turnkey income from day one!
Highlights
Property details
- MLS
- NOWDD
- MLS #
- 5245993
- Property type
- Duplex
- Subdivision
- N/A
- Status
- Active
- Days on market
- 6
- On market date
- September 17, 2026
- Stories
- N/A
- Total bathrooms
- 3
- Garage spaces
- 3
- Parking spaces
- N/A
- Lot size
- 0.148 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.
- Enrollment
- 346
- Student:teacher ratio
- 18.2:1
- District
- Shaker Heights City
- Enrollment
- 725
- Student:teacher ratio
- 13.2:1
- District
- Shaker Heights City
- Enrollment
- 0
- District
- Cleveland Municipal
Walkability
Blended score for Shaker Heights'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 Shaker Heights, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 23 days ago.
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.