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12065 Edgewater Drive Lakewood, OH 44107

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For Sale
$3,429,000

Turnkey 25-unit multifamily property with lake views in Lakewood, Ohio.

Type:MF
Added:
Oct 29, 2025
Days on Market:
162
Last Refresh:
Apr 3 at 4:58 am

Property Features for 12065 Edgewater Drive

General Information

Standard status
Active
Property subtype
MF

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Listing Contact
Erin Thomas

Listing agent Erin Thomas License #2019005940, Ohio

Listing office KW Commercial | Citywide | Erin Thomas

Listing date Oct 29, 2025

Source Realnex

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial | Citywide | Erin Thomas


Overview

Lakewood Lakefront Multifamily Investment

This 25-unit multifamily property is located in Lakewood, Ohio, near Lake Erie. Six units offer direct lake views. The property features a mix of one-bedroom, two-bedroom, and three-bedroom/two-bath layouts. Five units are vacant and will be fully renovated prior to closing. Renovations are being handled by a contractor and include new kitchens with modern cabinetry and counters, refinished hardwood or new LVP flooring, and fully tiled contemporary baths. All units have brand new 100-amp updated electrical service, and significant improvements were made to plumbing stacks and drains. A new boiler was installed in 2024, and new electric is planned for 2025. Over 60% of units have new kitchens, and 90% are in good condition. The building includes 20 parking spaces, including 8 garage spots. Recent capital improvements include new electrical systems, plumbing stacks, drains, and windows. The property is situated along Edgewater Drive, providing tenants with lake views, walkability, and quick access to Downtown Cleveland, Edgewater Park, and Clifton Blvd retail. The unit mix includes 3 units with 3 beds / 2 baths, 10 units with 2 beds, 11 units with 1 bed, and 1 studio unit.
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

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  • Local Demand
City
Lakewood
County
Cuyahoga
State
Ohio
Longitude
-81.7747016
Latitude
41.4914217

FAQs

What type of property is this?
Apartment building - Turnkey 25-unit multifamily property with lake views in Lakewood, Ohio.
Where is this apartment building located?
The property is located at 12065 Edgewater Drive Lakewood, OH.
What is the asking price?
The asking price for this property is $3,429,000.
What are key features of this property?
This property features: Turnkey operation with immediate cash flow: Approximately $147,000 annual cash flow after debt service in year 1.; Significant value‑add opportunity: Five vacant units will be fully renovated prior to closing, with potential for increased rents.; Prime lakefront location in Lakewood: Highly desirable rental market with lake views and proximity to Downtown Cleveland, Edgewater Park, and Clifton Blvd retail.
More about this property
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