17105 Madison Ave - Apartments FOR SALE


Lakewood, OH 44107
$1,500,000 USD
440-454-0756
17105 Madison Ave, Lakewood, OH for Sale
$1,500,000 USD
Apartments - FOR SALE
1/8
null | 8.12% Cap Rate

17105 Madison Ave
Lakewood, OH 44107


OVERVIEW

Situated in the most sought-after sub-market of Lakewood, 17105 Madison is a well-maintained 12-suite property featuring a highly desirable unit mix (10 two-bedroom units), rare building features (gabled roof and covered garage), and a low operating cost structure (individually metered gas furnaces). The property is located within the Hilliard Triangle, directly across from the Rocky River Reservation, ensuring strong rental demand. Property Highlights: +Modern Unit Upgrades - Granite countertops and modern bathroom vanities(one unit remains unupdated as it has been occupied by a long-term legacy tenant) +Low Operating Cost - tenants pay for both gas and electricity +Covered Garage - each unit enjoys its own garage space, with individual storage space on-premise +On-site laundry - great value-add, as well as additional source of income +High-Demand Rental - demand-over-supply interests for rental opportunities especially March through October +High Walk Score - exceptional accessibility to local dining, boutique, and amenities This offering presents an attractive entry point at a competitive cap rate, with significant potential for value enhancement by aligning legacy rents with current market rates, and monetizing the remaining parking spaces. This investment-grade property is 100% turn-key and ready for its next owner.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$151 USD /SF

# OF UNITS

12

PRICE/UNIT

$125,000

CAP RATE

8.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,461 SF

ZONING

R2

APN/PARCEL ID

313-09-005

ASK ABOUT THIS PROPERTY

Mark MoskwaHalstead Capital LLCMore Info
440-454-0756

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Mark MoskwaHalstead Capital LLCMore Info
440-454-0756

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.