Rare Investment Opportunity in Lakewood’s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland’s highly coveted Lakewood Gold Coast. This portfolio features two well-maintained properties on Clifton Blvd: The Traymore, offering 29 spacious two-bedroom units, and Clifton Cove, with 46 one-bedroom units. With 75-80% of units already renovated and $1.2M in recent capital improvements since 2022, the properties boast stability and minimal immediate work required. Based on the current rent roll and normalized expenses, the portfolio delivers an impressive 8.3% cap rate with a clear roadmap to achieve double-digit returns. Currently at 92% occupancy, investors can enjoy strong cash flow from day one, with additional value-add potential through cosmetic updates and rent optimization. Situated in one of Cleveland’s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location.
SOLID PORTFOLIO OF HOMES with Professional Management in Place and RENTS FLOWING IN! All Properties are in Excellent Locations which Offer Safety for Tenants and for the Investment, which Boasts Appreciation + Cash Flow! Locations Include LAKEWOOD (44107), PARMA (44129 and 44134), PARMA HEIGHTS (44130) and CLEVELAND'S OLD BROOKLYN NEIGHBORHOOD (44109)! *10 SINGLE FAMILY HOMES AND 4 DOUBLES* Totaling 18 Doors. No Efficiencies & No 1 Bedrooms! This Incredible Opportunity is at an Attractive Cap Rate Already AND Rents are Under Market! Truly an Above Average Overall Condition as Seen by Photos. Addresses are as Follows: 1578-1580 Mars Ave - Lakewood 3111 Maplecrest Ave - Parma 7923 Lanyard Ave - Parma 7612 Deerfield Dr - Parma 4804-4806 Pershing Ave - Parma 6403 Theota Ave - Parma 5514 Haverhill Ave - Parma 5254 W 83rd St - Parma 6876 Beresford Ave - Parma Hts 5802 Northcliff Ave - Cleveland 5013 Vandalia Ave - Cleveland 3911 Archmere Ave - Cleveland 4006 Archmere Ave - Cleveland Rent Roll / Proforma / Additional Photos and Property Specifics are Available for Serious and Qualified Interest!
Looking for a prime investment property with exceptional cash flow? This building delivers on all fronts. Over the past eight years, the building has been extensively renovated, including a new roof, heating, plumbing, and electrical systems. Plus, each unit is thoughtfully updated, down to the studs, to enhance tenant satisfaction and retention, resulting in a fully occupied building with a stable and predictable income stream. Lakewood’s rental demand is rising, further strengthening this property’s occupancy and cash flow potential. The building includes three one-bedroom and five two-bedroom units. With rental rates in Lakewood reaching as high as $900-$1,100 for single bed units and $1,400-$1,600 for two bedrooms, this configuration provides a potential monthly income of $8,500 to $10,000 plus, translating to an annual income of $102,600 to $120,000 or more. With a sale price of $999,000, investors can expect a cap rate of 5-8%, a highly competitive return for the Lakewood market. Located in the desirable western end of Lakewood, this property offers convenient walkable access to neighborhood eateries, shopping, the Metroparks, and bike-friendly streets, making it a highly appealing location for tenants. Additionally, the building features eight off-street parking spaces behind the building—an invaluable amenity in this urban-suburban setting. As rental rates continue to climb, this property is strategically positioned to yield consistent cash flow and long-term appreciation. For investors seeking a stable, income-generating asset in a high-demand area, this turnkey property represents a rare opportunity. Combining modern upgrades, solid tenant retention, and an attractive cap rate, this property is ideal for those looking to secure a well-maintained asset poised for future growth and long-term wealth building.
LAKEWOOD BAPTIST CHURCH has been a long standing community church with a rich history, serving the needs of Lakewood since 1922. The facility boasts over 29,000 sqft set on .80 acres in heart of desirable Downtown Lakewood, south side of Detroit Avenue between Lincoln Avenue and Olivewood Avenue. Original Structure of Church built in 1922 includes large chapel that can accommodate approximately 250-300, several offices, community/meeting rooms. All the character you expect from a 1920's property - custom stained glass, woodwork, hdwd floors, churgh organ, second floor balcony. Addition in 1950's added to back of Church was a former School & Day Care for many years - includes classrooms, storage rooms, office(s) & restroom. Annex added approximately 1970 and is connected to east side of Church with a courtyard/playground between two buildings - currently leased to an independent day care. Basement (former Church gym) is on MTM lease w/ fitness business - total 4 restrooms overall, approximately 38 parking spaces & small garage on property. The City of Lakewood is an inner-ring suburb that is located on Cleveland's western border & Lake Erie - Population of over 50,000 known for it's walkability, award winning restaurants, breweries, shops, arts and culture. Close proximity to Downtown Cleveland & Airport. Additional information available upon request. Private tours only - BE RESPECTFUL & DO NOT walk property or approach congregation, staff and tenants.
Lakewood is located in Ohio. Lakewood, Ohio has a population of 50,841. Lakewood is more family-centric than the surrounding county with 29.76% of the households containing married families with children. The county average for households married with children is 23.83%.
The median household income in Lakewood, Ohio is $57,588. The median household income for the surrounding county is $55,109 compared to the national median of $69,021. The median age of people living in Lakewood is 34.6 years.
The average high temperature in July is 83.1 degrees, with an average low temperature in January of 22.1 degrees. The average rainfall is approximately 38.3 inches per year, with 53.5 inches of snow per year.
