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 Market62
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
Listed By:
Lori Dague · License #2018002168
(440) 796-0301
Source:
Thelindsayteam
Added: Aug 15
Changed: Oct 10
Last Checked: Oct 15 at 12:09AM
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 / Yr
$30,049
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
