1497 Coutant Avenue, Lakewood, OH 44107
sale
$1,000,000
|
Apartment
Courtesy Of RE/MAX Trinity LLC
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.
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Property Features
- Age: Over 50 Years Old
- Building Units: 9
- Heating System: Forced Air
- Legal Description: 21 IRVINE TOWNSEND S/L 16 SWP & 16 SEC& 17 ALL BUT NWC 18 ALL0017 WP
- MLSID: 5226008
- Rooms: Basement
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