1483-1485 Olivewood AVE Save Request In-Person Tour Request Virtual Tour
Lakewood,OH 44107
Key Details
Property Type Single Family Home
Sub Type Duplex
Listing Status Hold
Purchase Type For Sale
Square Footage 2,376 sqft
Price per Sqft $172
Subdivision Lakewood
MLS Listing ID 5110016
Bedrooms 6
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,376
Total Fin. Sqft 2376
Year Built 1905
Annual Tax Amount $6,374
Tax Year 2024
Lot Size 3,571 Sqft
Acres 0.082
Property Sub-Type Duplex
Property Description
Unlock an incredible investment opportunity with this well-maintained side by side brick duplex in the heart of Lakewood, Ohio! This property features two sizable units, each with 3 bedrooms and 1 bathroom, totaling 6 bedrooms and 2 bathrooms across approximately 2,400 square feet. Perfect for investors or owner-occupants looking to capitalize on rental income.
Key Features:
• Assumable mortgage with ~$208,000 remaining at an attractive 2.25% interest rate, offering significant savings for qualified buyers
• Newer roof for low maintenance costs
• Updated water tanks on both sides for reliable operation
• Previously generated $3,100/month in rental income when fully rented
• Potential for rent increases to enhance your return on investment
• Prime Lakewood location, close to shopping, dining, and transportation
• One side vacant for showing, One side Tennant occupied through August
This duplex is a standout choice for immediate cash flow and future growth. The assumable mortgage at a low 2.25% rate provides a rare financing edge, complemented by the newer roof and water tanks that keep repair costs in check. One unit currently rented for $1450, and the other previously rented for $1650 provides $3,100 per month in potential rental income and room to grow, this property promises strong returns.
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air,Gas
Cooling None
Fireplace No
Exterior
Parking Features Paved
Water Access Desc Public
Roof Type Asphalt,Fiberglass,Flat
Garage true
Private Pool No
Building
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Lakewood Csd (Cuyahoga)- 1817
Others
Tax ID 314-07-126