Lakewood Duplex with Turnkey
2215 Eldred Avenue Lakewood, OH 44107
For Sale
$350,000
Pending
MULTI_FAMILY - Lakewood, OH
Property Size2,506 SF
Lot Size0.13 Acres
Days on Market81
Property Features for 2215 Eldred Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3, Basement, Bathroom 2
- Parking features
- Garage
- Standard status
- Pending
- APN
- 313-13-063
- Size
- 2,506 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 18 WP 400.06 S OF TRAYMORE EST SUB
- Tax Annual Amount
- 5417
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1927
- Floors in Building
- 2
- Building materials
- VinylSiding
- Roof type
- Asphalt, Fiberglass
Listing Agency:
HomeSmart Real Estate Momentum LLC
(440) 578-8058
Listed By:
Thomas D Kazanas · License #2019000263
(440) 829-4457
Added: May 7
Changed: Jul 17
Last Checked: Jul 26 at 8:06AM
MLS# 5207765
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 spacious duplex in Lakewood, Ohio, presents an opportunity for investors or owner-occupiers. The property features curb appeal and a 2024 driveway with an extended parking pad, along with a detached garage. A new roof with architectural shingles and a vented ridge was also installed in 2024. Both units retain original character, including millwork, oak hardwood floors, and leaded glass china cabinets. Each unit includes two bedrooms and a bonus study located behind the family room. The lower unit is turnkey, featuring a remodeled kitchen with granite countertops, a breakfast bar, subway tile backsplash, a wine rack, and a full appliance package including a dishwasher. The upper unit offers value-add potential. Situated on a quiet street, the property is within walking distance of Hayes and Harding Schools and near restaurants, shopping, parks, and I-90. The property is located on a lot of 0.1333 acres and has a property size of 2506 square feet.
Key Highlights
- Lakewood duplex (owner‑occupied) built in 1927 with 2 bedrooms per unit and original character features.
- 2024 driveway with an extended parking pad plus a detached garage for additional off‑street parking.
- Brand‑new roof with architectural shingles and a vented ridge; roof materials include asphalt and fiberglass.
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 | $40.6k | $16.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $38.0k | $15.15 |
| − OpEx | −$11.4k | −$4.54 |
| NOI | $26.6k | $10.60 |
2,506 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$379.6K
$332.1K – $442.9K
NOI $26,571 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$353.9K
$309.7K – $412.9K
NOI $24,773 @ 7.0% cap · market cap 7.08%
Theoretical Best
Warehouse
$2.01M
$1.76M – $2.34M
NOI $140,554 @ 7.0% cap · market cap 40.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Spacious Lakewood duplex with remodeled unit and value-add potential.
Where is this duplex located?
The property is located at 2215 Eldred Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Lakewood duplex (owner‑occupied) built in 1927 with 2 bedrooms per unit and original character features.; 2024 driveway with an extended parking pad plus a detached garage for additional off‑street parking.; Brand‑new roof with architectural shingles and a vented ridge; roof materials include asphalt and fiberglass.
