Three-Unit Triplex With Paved
For Sale
$380,000
1447 Rosewood Avenue, Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
Property Size2,834 SF
Lot Size0.11 Acres
Price / SF$134.09
Days on Market133
Property Features for 1447 Rosewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Laundry Room, Bedroom 3, Bathroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
Orchard Grove
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Off rosewood
Standard status
Active
APN
313-25-064
Size
2,834 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
22 ORCHGR 0173 ALL
Tax Annual Amount
6114
Legal Description
22 ORCHGR 0173 ALL
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Steam, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
shared laundry
front porches
Building Details
Year built
1904
Floors in Building
3
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Lori Dague · License #2018002168
(440) 796-0301
Added: Apr 2
Changed: Aug 1
Last Checked: Aug 12 at 3:06PM
MLS# 5198425
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 three-unit triplex features a first- and second-floor layout with two bedrooms, large living rooms, and a formal dining room, along with nice updated kitchen areas. Both the first and second floors have access to large front porches. The third-floor unit offers one bedroom, a living room, and a kitchen with an eat-in area. Shared laundry is available in the basement, and the large backyard is paved for parking for all units.
Built in 1904, the property has vinyl siding and an asphalt/fiberglass roof. Heating options include steam and baseboard, as well as hot water heating. Water service is public, and sewer is public sewer.
Additional in-unit appliances include a range, refrigerator, washer, and dryer. The lot is 0.1065 acres, and the property size is 2,834 square feet.
Built in 1904, the property has vinyl siding and an asphalt/fiberglass roof. Heating options include steam and baseboard, as well as hot water heating. Water service is public, and sewer is public sewer.
Additional in-unit appliances include a range, refrigerator, washer, and dryer. The lot is 0.1065 acres, and the property size is 2,834 square feet.
Key Highlights
- Large paved backyard provides parking for all units
- Shared laundry in the basement
- First and second floors each include two bedrooms with front porch access
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,355
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-unit triplex with shared basement laundry and a large paved backyard for parking for all units.
Where is this triplex located?
The property is located at 1447 Rosewood Avenue 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: Large paved backyard provides parking for all units; Shared laundry in the basement; First and second floors each include two bedrooms with front porch access
