Triplex With Four-Car
New
For Sale
$485,000
14724 Clifton Boulevard, Lakewood, OH 44107
Three residential units include separate utilities, individual laundry areas, and a refreshed top-floor loft with its own entrance.
Property Size3,720 SF
Price / SF$130.38
Days on Market2
Property Features for 14724 Clifton Boulevard
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
dishwashers
laundry area
built-ins
three-season room
vinyl replacement windows
Building Details
Year Built
1920
Listing Agency:
JAMM Real Estate Co.
(216) 409-2888
Listed By:
Michael L Anter, Michael J Coljohn · License #2013004435
Source:
Thelindsayteam
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 6:33PM
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 JAMM Real Estate Co.
Investment Insights
Based on property information with market context.
Located at 14724 Clifton Boulevard in Lakewood, this 1920 multifamily property contains 3,720 square feet across three residential units. The first- and second-floor apartments are leased and include two bedrooms, formal dining rooms, high ceilings, built-in features, and bonus areas. The vacant third-floor loft has a separate rear-hall entry, updated flooring, fresh paint, an open living area, a large bedroom, a full kitchen, and a window-lined three-season room.
Each unit has separated utilities and a dedicated laundry area in the basement, which also provides storage. The property includes vinyl replacement windows, updated electrical panels, and dishwashers in all units. A four-car garage has privacy walls dividing the spaces, with additional off-street parking. Lakewood Park, shopping, and dining are nearby.
Each unit has separated utilities and a dedicated laundry area in the basement, which also provides storage. The property includes vinyl replacement windows, updated electrical panels, and dishwashers in all units. A four-car garage has privacy walls dividing the spaces, with additional off-street parking. Lakewood Park, shopping, and dining are nearby.
Key Highlights
- Three residential units totaling 3,720 square feet
- First- and second‑floor units are leased; third‑floor loft is vacant
- Four‑car garage with privacy walls separating each garage space
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
$39,443
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
8.13%
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%
$788,860
$788.9K
Cap Rate 7%
$563,471
$563.5K
Cap Rate 9%
$438,256
$438.3K
Market Conditions
NOI Build-Up for 3,720 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
$60.3K $16.20/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$56.3K $15.15/SF
− OpEx
−$16.9K −$4.54/SF
NOI
$39.4K $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%
$788,860
Cap Rate 7%
$563,471
Cap Rate 9%
$438,256
Alternative Uses
Best Use
Multifamily LT 5
$563.5K
$493.0K – $657.4K
NOI $39,443 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$525.3K
$459.7K – $612.9K
NOI $36,773 @ 7.0% cap · market cap 7.58%
Theoretical Best
Warehouse
$2.98M
$2.61M – $3.48M
NOI $208,644 @ 7.0% cap · market cap 43.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,041
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?
Triplex - Three residential units include separate utilities, individual laundry areas, and a refreshed top-floor loft with its own entrance.
Where is this triplex located?
The property is located at 14724 Clifton Boulevard Lakewood, OH.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three residential units totaling 3,720 square feet; First- and second‑floor units are leased; third‑floor loft is vacant; Four‑car garage with privacy walls separating each garage space
