Three-Unit Triplex with Front
For Sale
$380,000
1447 Rosewood Ave, Lakewood, OH 44107
Updated kitchens, basement laundry, and a paved backyard provide practical features across the three-unit property.
Property Size2,834 SF
Price / SF$134.09
Days on Market16
Property Features for 1447 Rosewood Ave
General Information
Standard status
Active
Size
2,834 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Amenities
shared laundry
front porches
Building Details
Year Built
1904
Buildings
1
Stories
3
Listing Agency:
Keller Williams Greater Metropolitan
(440) 796-0301
Listed By:
Lori Dague · License #2018002168
Source:
Theacclaimedrealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 5:34PM
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 Keller Williams Greater Metropolitan
Investment Insights
Based on property information with market context.
This three-unit property, built in 1904, includes two larger residences on the first and second floors and a one-bedroom residence on the third floor. The lower-level units each offer two bedrooms, a living room, a formal dining room, an updated kitchen, and access to a sizable front porch. The top-floor unit includes a bedroom, living room, kitchen, and eat-in area. Shared laundry is located in the basement.
The property is located on Rosewood Ave in Lakewood, Ohio. A paved backyard provides parking for all units, while the front porches add outdoor space to the first- and second-floor residences.
The property is located on Rosewood Ave in Lakewood, Ohio. A paved backyard provides parking for all units, while the front porches add outdoor space to the first- and second-floor residences.
Key Highlights
- Three‑unit property built in 1904
- First- and second‑floor units each include two bedrooms and formal dining rooms
- Third‑floor residence offers 1 bedroom and an eat‑in kitchen area
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
$30,049
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
7.91%
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%
$600,980
$601.0K
Cap Rate 7%
$429,271
$429.3K
Cap Rate 9%
$333,878
$333.9K
Market Conditions
NOI Build-Up for 2,834 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
$45.9K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$42.9K $15.15/SF
− OpEx
−$12.9K −$4.54/SF
NOI
$30.0K $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%
$600,980
Cap Rate 7%
$429,271
Cap Rate 9%
$333,878
Alternative Uses
Best Use
Multifamily LT 5
$429.3K
$375.6K – $500.8K
NOI $30,049 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$400.2K
$350.2K – $466.9K
NOI $28,015 @ 7.0% cap · market cap 7.37%
Theoretical Best
Warehouse
$2.27M
$1.99M – $2.65M
NOI $158,951 @ 7.0% cap · market cap 41.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,777
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Updated kitchens, basement laundry, and a paved backyard provide practical features across the three-unit property.
Where is this triplex located?
The property is located at 1447 Rosewood Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Three‑unit property built in 1904; First- and second‑floor units each include two bedrooms and formal dining rooms; Third‑floor residence offers 1 bedroom and an eat‑in kitchen area
