Quadplex with Four Two-Bed
For Sale
$635,000
1323 Beach Avenue, Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
Property Size4,235 SF
Lot Size0.11 Acres
Price / SF$149.94
Days on Market47
Property Features for 1323 Beach Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Laundry Room, Bedroom 1, Bedroom 7, Bedroom 5, Bathroom 3, Basement, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 1
Subdivision
Henry Beach
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Head West from 117th, turn South on Beach Avenue
Standard status
Active
APN
312-33-072
Size
4,235 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21 BEACH 0071 ALL
Tax Annual Amount
7720
Legal Description
21 BEACH 0071 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
porch
coin-operated laundry
Building Details
Year built
1905
Floors in Building
2
Building materials
Stone, VinylSiding, WoodSiding
Roof type
Flat
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Alexander Castrey · License #2025005142
(310) 995-6847
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 8 at 9:06PM
MLS# 5221418
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 quadplex offers four 2-bedroom, 1-bath units across 4,235 square feet on a 0.106-acre lot. One unit is currently vacant, and the remaining three units are in place. Several units include bonus rooms, and each apartment features formal dining rooms, decorative fireplaces, hardwood floors, and abundant natural light. Outside space includes an expansive two-story front porch.
The building was constructed in 1905 and features stone with vinyl siding and wood siding, along with forced-air heating and window unit cooling. Updates include renovated kitchens and baths with stainless-steel appliances, a brand-new two-story rear porch, new front porch columns and flooring, three newer water heaters, two new furnaces, upgraded electric panels, and re-piping as needed. There are five off-street parking spaces at the rear, and coin-operated laundry is located in the shared basement.
The property is serviced by public water and public sewer, with a flat roof.
The building was constructed in 1905 and features stone with vinyl siding and wood siding, along with forced-air heating and window unit cooling. Updates include renovated kitchens and baths with stainless-steel appliances, a brand-new two-story rear porch, new front porch columns and flooring, three newer water heaters, two new furnaces, upgraded electric panels, and re-piping as needed. There are five off-street parking spaces at the rear, and coin-operated laundry is located in the shared basement.
The property is serviced by public water and public sewer, with a flat roof.
Key Highlights
- Four‑unit quadplex with one currently vacant unit
- 4,235 square‑foot building on a 0.106‑acre lot
- Four 2‑bedroom, 1‑bath units with formal dining rooms and decorative fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,903
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,060
$898.1K
Cap Rate 7%
$641,471
$641.5K
Cap Rate 9%
$498,922
$498.9K
Market Conditions
NOI Build-Up for 4,235 SF
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.
Gross rent
$68.6K $16.20/SF
− Vacancy
−$4.5K −$1.05/SF
EGI
$64.1K $15.15/SF
− OpEx
−$19.2K −$4.54/SF
NOI
$44.9K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,060
Cap Rate 7%
$641,471
Cap Rate 9%
$498,922
Alternative Uses
Best Use
Multifamily LT 5
$641.5K
$561.3K – $748.4K
NOI $44,903 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$598.1K
$523.3K – $697.7K
NOI $41,864 @ 7.0% cap · market cap 6.59%
Theoretical Best
Warehouse
$3.39M
$2.97M – $3.96M
NOI $237,529 @ 7.0% cap · market cap 37.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
Explore this area
Business Placement
Demographics for 44107, OH
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,465
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex in Lakewood with one vacant unit and updated kitchens and baths plus shared basement laundry.
Where is this quadplex located?
The property is located at 1323 Beach Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Four‑unit quadplex with one currently vacant unit; 4,235 square‑foot building on a 0.106‑acre lot; Four 2‑bedroom, 1‑bath units with formal dining rooms and decorative fireplaces
