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    15735 Clifton Blvd Lakewood, OH 44107

    View on Map
    Sponsored
    Pending
    $449,000

    MULTI_FAMILY - Lakewood, OH

    Property size:
    4,395 SF
    Lot size:
    0.17 Acres
    Days on Market:
    15
    Last Refresh:
    Mar 24 at 10:06 pm

    Property Features for 15735 Clifton Blvd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Rooms
    Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Laundry Room, Bedroom 6, Bedroom 3, Bathroom 4, Basement, Bathroom 1
    Bedrooms
    6
    Bathrooms
    4
    APN
    311-31-059
    Parking features
    Driveway, Garage
    Interior features
    CeilingFans, CrownMolding, EntranceFoyer, EatInKitchen
    Appliances
    BuiltInOven, Range, Refrigerator
    Size
    4,395 SF
    Lot size
    0.17 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Other (Heating)
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1924
    Floors in Building
    3
    Building materials
    Brick
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Kelly MacCarthy

    Northeast Ohio Realty LLC

    Listing agent Kelly MacCarthy License #2017005466

    Listing date Mar 10, 2026

    MLS# 5174170 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Spacious Multifamily Home on Clifton

    This well-maintained brick multifamily home is located on Clifton Boulevard. The property features six bedrooms and four bathrooms across three floors. The first-floor unit includes an updated kitchen with stainless steel countertops, a built-in double wall oven, and an enclosed sunroom with floor-to-ceiling windows. The unit also has a living room with a decorative fireplace, built-in shelving, an integrated desk, a dining room, wide hallways, natural woodwork, two bedrooms, and one bath. The second-floor unit mirrors the first, featuring a large eat-in kitchen with solid wood cabinetry, a dining room with an attached enclosed sunroom, a living room with a decorative fireplace, two bedrooms, and a full bath. The third floor includes a full, usable kitchen, two additional bedrooms, two bathrooms, and storage. Updates include a new roof (2020), new boilers (2015 & 2024), a resurfaced driveway (2025), and replaced plumbing stacks (2023 & 2025). The property is near Lakewood Park, Lake Erie, Lakewood schools, neighborhood amenities, shopping, medical facilities, the Shoreway, I-90, downtown Cleveland, and the western suburbs. The property has outstanding rental potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.808344
    Latitude
    41.491491

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained, updated multifamily home with six bedrooms and four bathrooms.
    Where is this apartment building located?
    The property is located at 15735 Clifton Blvd Lakewood, OH.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: - Large, well-maintained brick multifamily home on desirable Clifton Blvd, offering exceptional space, character, & comfort.; - Updated with **new roof (2020), new boilers (2015 & 2024), resurfaced driveway (2025), and plumbing stacks replaced (2023 & 2025)**.; - Three floors with a total of six bedrooms and four bathrooms, including a versatile third-floor unit with a full kitchen and two bathrooms.
    (440) 864-6580
    Request Owner's contact information
    15735 Clifton Blvd Lakewood, OH 44107
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    Lakewood, OH 44107
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15735 Clifton Blvd Lakewood, OH 44107
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    We can help!
    Listing Contact
    Kelly MacCarthy
    Real Estate License ID: 2017005466
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