1548 Lakewood Ave., Lakewood, OH 44107
sale
$325,000
|
Commercial-Other
Listed By CENTURY 21 DePiero & Associates, Inc.
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.
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Property Features
- Age: Over 50 Years Old
- Basement: Full
- Building Area: 3388.00 SF
- Cooling: Window A/C
- Cooling: Central A/C
- Cross Docks: N
- For Auction: N
- Garage Description: No Garage
- Heating - Fuel Type: Gas
- Heating Type: Steam Heat
- Heating Type: Forced Air
- Lot Size Desc: Under 1/2 Acre
- Lot Size In Text: 0.11 Acres
- MLSID: 5073533
- Max Contiguous Space: 0
- Price Upon Request: N
- Roof: Asphalt Shingle Roof
- Sewer: City
- Style: Other Style
- Sublease: N
- Taxes: $4018.00
- Water: City Water
- Year Built: 1914
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