Lakewood Duplex: Investment
1259 Donald Avenue, Lakewood, OH 44107
New
MULTI_FAMILY - Lakewood, OH
Property size:
2,364 SFLot size:
0.11 AcresPrice / SF:
$148/SF- Added:
- May 22, 2026
- Days on Market:
- 2
- Last Refresh:
- May 23 at 3:06 pm
Property Features for 1259 Donald Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2, Basement, Laundry Room, Bedroom 1, Bathroom 1
- Parking features
- Garage
- Standard status
- Active
- APN
- 312-26-087
- Size
- 2,364 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7180
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1917
- Floors in Building
- 3
- Building materials
- VinylSiding
- Roof type
- Asphalt, Fiberglass
Listing agent Ahren L Booher License #2010002612 (440) 537-4502
Listing office Keller Williams Elevate 18318 Pearl Road, Strongsville, OH (440) 572-1200
Listing date May 22, 2026
MLS# 5210401
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.
HighLights
- Fully rented duplex generating $2,900/month with leases secured through September 2026.
- Brand new tear‑off roof installed in April 2026.
- Each unit has central air conditioning and its own washer and dryer set.
- First‑floor unit: 2 bedrooms, 1 bath, sunroom; Second‑floor unit: 3 bedrooms (including spacious third‑floor bedroom), 1 bath, sunroom.
- Convenient location near St. Edward High School, The Gold Coast, shopping, restaurants, and the Shoreway for easy access to Downtown Cleveland.
- Both units are equipped with kitchen appliances.
Overview
Located in Lakewood, Ohio, the property at 1259 Donald Avenue is a fully rented duplex presenting an investment opportunity. The property generates $2,900 per month, with leases secured through September 2026. The first-floor unit features 2 bedrooms, 1 full bath, and a sunroom suitable for a home office or playroom. The second-floor unit includes 3 bedrooms, with a spacious third-floor bedroom, and 1 full bath, as well as a sunroom. Both units are equipped with kitchen appliances and central air conditioning. Each unit has its own washer and dryer set located in the basement. The property is close to St. Edward High School, The Gold Coast, shopping, restaurants, and the Shoreway, providing access to Downtown Cleveland. A new roof was installed in April 2026. The property size is 2,364 square feet, situated on a 0.11-acre lot.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$278.5K
NOI $25,065 @ 9.00% cap · cautious / downside scenario
Moderate
$358.1K
NOI $25,065 @ 7.00% cap · market / base-case scenario
Aggressive
$501.3K
NOI $25,065 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.3k | $16.20 |
| − Vacancy | −$2.5k | −$1.05 |
| EGI | $35.8k | $15.15 |
| − OpEx | −$10.7k | −$4.54 |
| NOI | $25.1k | $10.60 |
2,364 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$358.1K
$313.3K – $417.8K
NOI $25,065 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.5K
NOI $23,369 @ 7.0% cap · market cap 6.68%
Theoretical Best
Warehouse
$1.89M
$1.66M – $2.21M
NOI $132,590 @ 7.0% cap · market cap 37.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.8004
- Latitude
- 41.4825
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Fully rented duplex in Lakewood, OH, generating $2,900/month.
Where is this duplex located?
The property is located at 1259 Donald 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: Fully rented duplex generating $2,900/month with leases secured through September 2026.; **Brand new tear‑off roof installed in April 2026.**; Each unit has central air conditioning and its own washer and dryer set.
