17105 Madison Ave Immeuble residentiel 12 lots 1 314 855 € (109 571 €/Lot) Taux de capitalisation 8,12 % Lakewood, OH 44107

Situated in the most sought-after sub-market of Lakewood, 17105 Madison is a well-maintained 12-suite property featuring a highly desirable unit mix (10 two-bedroom units), rare building features (gabled roof and covered garage), and a low operating cost structure (individually metered gas furnaces). The property is located within the Hilliard Triangle, directly across from the Rocky River Reservation, ensuring strong rental demand.

There have been modern unit upgrades of granite countertops and modern bathroom vanities(one unit remains un-updated as a long-term legacy tenant has occupied it). There are low operating costs as tenants pay for both gas and electricity. Each unit enjoys its own garage space, with individual storage space on-premises. The on-site laundry is a significant value-add, as well as an additional source of income. High rental demand is seen via the demand-over-supply interests for rental opportunities, especially from March through October. This area has a high walk score and exceptional accessibility to local dining, boutiques, and amenities.

This offering presents an attractive entry point at a competitive cap rate. It has significant potential for value enhancement by aligning legacy rents with current market rates and monetizing the remaining parking spaces. This investment-grade property is 100% turnkey and ready for its next owner.