1346 Kenilworth AVE, Lakewood, OH 44107
1346 Kenilworth AVE, Lakewood, OH 44107
1346 Kenilworth AVE, Lakewood, OH 44107
1346 Kenilworth AVE, Lakewood, OH 44107
1346 Kenilworth AVE, Lakewood, OH 44107
1346 Kenilworth AVE, Lakewood, OH 44107
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 2,995,000
Est. payment | /mo

7,609 Sqft Lot

Save
$ 2,995,000
Est. payment | /mo
Save

7,609 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Rockport

MLS Listing ID 5235310

HOA Y/N No

Year Built 1929

Annual Tax Amount $49,830

Tax Year 2025

Lot Size 7,609 Sqft

Acres 0.1747

Property Sub-Type Apartment

Property Description

Rare opportunity to acquire a 32-unit apartment portfolio in the heart of Lakewood, one of Northeast Ohio's strongest rental markets. This offering includes two neighboring brick apartment buildings totaling 28,167 SF and is 97% occupied. Ownership has invested over $460,000 in recent capital improvements, including renovated kitchens and bathrooms, LVP flooring, upgraded electrical panels throughout, common area improvements, structural garage repairs, plumbing upgrades, and more, allowing the next owner to focus on increasing income rather than major renovations. Current Gross Operating Income is $376,572 with a current NOI of $200,777. Year 1 pro forma projects a $275,107 NOI and an 8.40% cap rate through continued rent growth, utility reimbursements already being implemented, and ancillary income opportunities. Amenities include attached garages, owner-owned laundry, tenant storage, and strong in-place occupancy. Located in Ohio's most walkable city with 50% of residents being tenants andnd 3% YoY rent growth. Homes sell over asking over 50% of the time with 7% increasing value YoY. Safe location and acquisition.

Location

State OH

County Cuyahoga

Rooms

Basement Partial, Unfinished

Interior

Heating Hot Water, Steam

Cooling Window Unit(s)

Fireplace No

Exterior

Parking Features Attached, Covered, Driveway, Garage, Indoor, Parking Lot, On Street

Water Access Desc Public

Roof Type Flat

Building

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Schools

School District Lakewood Csd (Cuyahoga)- 1817

Others

Tax ID 311-17-034

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com, 440-670-2300

NEARBY SCHOOLS & PROPERTIES

Shawana Hanson

"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."

+1(216) 971-3161

info@luxehauscle.com

1991 Crocker Rd. Suite 600, Westlake, OH 44145, United States

GET MORE INFORMATION

First Name*
Last Name*
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Real Brokerage, Inc., including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Tour this home!

1346 Kenilworth AVE