Lakewood Multifamily Investment
1363 Cranford Avenue Lakewood, OH 44107
1363 Cranford Avenue, Lakewood, OH, 44107
$380,000
For Sale
$380,000
MULTI_FAMILY - Lakewood, OH
Property Size2,885 SF
Lot Size0.11 Acres
Price / SF$131.72
Days on Market113
Property Features for 1363 Cranford Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 311-33-033
- Size
- 2,885 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 22 DELMAR 0131 ALL
- Tax Annual Amount
- 6470
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1908
- Floors in Building
- 2
- Building materials
- VinylSiding
- Roof type
- Asphalt, Fiberglass
Listing agency
Keller Williams Greater Metropolitan
(216) 839-5500
Listed by
Lori Dague · License #2018002168
(440) 796-0301
Added: Apr 2 Updated: Jul 17 at 10:18PM Checked: Jul 23 at 10:06AM
MLS# 5198434
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.
This multifamily property, located in Lakewood, Ohio, presents an opportunity for investors or owner-occupants. The duplex at 1364 Cranford features two units. The first-floor unit includes 3 bedrooms and 1 bath, along with a living room and formal dining room. The second-floor unit offers 2 bedrooms and 1 bath, also with a living room and a formal dining room. A large parking pad is located at the back of the house, providing parking for both units. The property is situated in a location with walkability to shops and restaurants, and quick access to downtown Cleveland, Edgewater Park, and major highways. The lot size is 0.1102 acres. The property offers potential in a rental market.
Key Highlights
- Duplex at 1364 Cranford with 2 units
- First‑floor unit offers 3 bedrooms and 1 bathroom with a living room and formal dining room
- Second‑floor unit(s) offer 2 bedrooms and 1 bathroom with a living room and formal dining room
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 | $46.7k | $16.20 |
| − Vacancy | −$3.0k | −$1.05 |
| EGI | $43.7k | $15.15 |
| − OpEx | −$13.1k | −$4.54 |
| NOI | $30.6k | $10.60 |
2,885 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$437.0K
$382.4K – $509.8K
NOI $30,589 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 7.51%
Theoretical Best
Warehouse
$2.31M
$2.02M – $2.70M
NOI $161,811 @ 7.0% cap · market cap 42.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multifamily property in desirable Lakewood, near shops, restaurants, and highways.
Where is this duplex located?
The property is located at 1363 Cranford Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Duplex at 1364 Cranford with 2 units; First‑floor unit offers 3 bedrooms and 1 bathroom with a living room and formal dining room; Second‑floor unit(s) offer 2 bedrooms and 1 bathroom with a living room and formal dining room
