Lakewood Triplex: Investment
1296 Cook Avenue Lakewood, OH 44107
1296 Cook Avenue, Lakewood, OH, 44107
$489,000
For Sale
$489,000
MULTI_FAMILY - Lakewood, OH
Property Size2,050 SF
Lot Size0.12 Acres
Price / SF$238.54
Days on Market61
Property Features for 1296 Cook Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 2, Bedroom 5, Bathroom 2, Basement, Bedroom 3, Bathroom 1, Bedroom 4, Laundry Room, Bathroom 3, Bedroom 1
- Parking features
- Off Street
- Standard status
- Active
- APN
- 312-13-023
- Size
- 2,050 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 22 LKPK 0066 ALL
- Tax Annual Amount
- 5430
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1962
- Floors in Building
- 3
- Roof type
- Slate
Listing agency
Keller Williams Greater Metropolitan
(216) 839-5500
Listed by
Mathew P Chase · License #2013002819
(440) 452-2000
Added: May 22 Updated: Jul 17 at 10:17PM Checked: Jul 21 at 10:06AM
MLS# 5211261
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Lakewood, Ohio, this triplex offers a blend of classic character and modern comfort. The property presents an opportunity for investors and owner-occupants. One of the units is currently rented, providing immediate income potential. The property is situated near restaurants, parks, schools, and entertainment options. Each unit provides living spaces with charm and functionality. The property is suitable for expanding an investment portfolio, generating passive income, or house hacking. The property size is 2050 square feet and the lot size is 0.1175 acres.
Key Highlights
- Charming triplex with the first‑floor unit already rented
- Built in 1962 with natural gas forced‑air heating
- Window unit cooling
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.2k | $16.20 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $31.1k | $15.15 |
| − OpEx | −$9.3k | −$4.54 |
| NOI | $21.7k | $10.60 |
2,050 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.3K
NOI $21,736 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.8K
NOI $20,265 @ 7.0% cap · market cap 4.14%
Theoretical Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $114,978 @ 7.0% cap · market cap 23.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Charming Lakewood triplex, ideal for investors or owner-occupants.
Where is this triplex located?
The property is located at 1296 Cook Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Charming triplex with the first‑floor unit already rented; Built in 1962 with natural gas forced‑air heating; Window unit cooling
