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About This Home
This 6-bedroom, 2-bathroom residential multi family at 1604 Newman Avenue in Lakewood, OH is listed for $275,000 ($123 per sqft). Built in 1898, the home offers 2,240 sqft of living space on a 0.16 acres lot.
Investment opportunity in the heart of Lakewood's Birdtown neighborhood. This fully occupied duplex offers immediate income with both 3-bedroom, 1-bath units currently rented at $1,400 per month, generating $2,800 in monthly income and $33,600 annually.
With strong rental demand in a prime Lakewood location, this property presents an excellent opportunity for investors seeking a cash-flowing asset with upside potential. The left unit has already seen several key improvements, including new windows, a complete kitchen remodel, a complete bathroom remodel, all new flooring, fresh paint, and new drywall installed on the first floor.
Whether you are looking to add to your portfolio or secure a value-add property with long-term potential, this duplex is one worth a closer look. Here's a slightly more investor-focused version too: Turnkey cash-flow opportunity in Lakewood's desirable Birdtown neighborhood.
This fully occupied duplex features two 3-bedroom, 1-bath units, each currently rented for $1,400 per month, producing $33,600 in annual gross income. With strong rental demand and a sought-after location, this property offers investors immediate cash flow with additional upside through future improvements.
The left unit has already been updated with new windows, a full kitchen remodel, a full bathroom remodel, all new flooring, fresh paint, and new drywall on the first floor. A solid addition to any investment portfolio, this property combines current income with value-add potential in one of Lakewood's most popular rental areas.
Key Features
- Built in 1898
- 0.16 acre lot
- 2 stories
Property Details
Monthly Cost Estimate
$1,471/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1604 Newman Avenue
Lakewood, OH 44107
Land & Home Companys 01
Property Details
Construction
Parking
Heating
Questions & Answers
This 6-bedroom, 2-bathroom residential multi family at 1604 Newman Avenue is listed at $275,000 ($123/sqft). The estimated monthly payment is $1,192 based on 20% down at 6.5% interest.
Key features include: Built in 1898, 0.16 acre lot, 2 stories.
This property is listed by Sylvia Incorvaia and can be reached at 2163161893 or sylvia@incteamrealestate.com.