Brick Triplex with Four-Car
New
For Sale
$485,000
14724 Clifton Boulevard, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size3,720 SF
Lot Size0.19 Acres
Price / SF$130.38
Days on Market2
Property Features for 14724 Clifton Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Laundry Room, Bathroom 1, Bathroom 2, Bedroom 3, Basement
Parking features
Open, Garage, Assigned
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
On Clifton near Warren & Clifton and 1 block south of Lakewood Park.
Standard status
Active
APN
312-15-028
Size
3,720 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7149
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Natural Gas, Baseboard, Steam, Hot Water(Heating)
Cooling system
Wall Unit(s), Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
laundry area
dishwasher
three-season room
Building Details
Year built
1920
Floors in Building
3
Building materials
Brick, VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
JAMM Real Estate Co.
(440) 838-1111
Listed By:
Michael L Anter · License #2013004435
(216) 409-2888
Added: Aug 28
Last Checked: Aug 29 at 11:06AM
MLS# 5238198
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.
Built in 1920, this 3,720-square-foot triplex sits on 0.19 acres and includes brick and vinyl siding construction. The first- and second-floor residences are leased, while the third-floor loft is vacant and features a separate rear-hall entry, updated flooring, fresh paint, an open living area, full kitchen, large bedroom, and three-season room. The leased units include two bedrooms, formal dining rooms, high ceilings, built-ins, and bonus spaces.
Each residence has separately metered utilities and a designated laundry area in the basement, which also provides storage. Additional property features include replacement vinyl windows, updated electrical panels, dishwashers, a four-car garage with privacy walls between spaces, and off-street parking. The property is located near Lakewood Park, shopping, and dining in Lakewood, Ohio.
Each residence has separately metered utilities and a designated laundry area in the basement, which also provides storage. Additional property features include replacement vinyl windows, updated electrical panels, dishwashers, a four-car garage with privacy walls between spaces, and off-street parking. The property is located near Lakewood Park, shopping, and dining in Lakewood, Ohio.
Key Highlights
- 3,720‑square‑foot triplex on a 0.19‑acre lot
- Three units; first- and second‑floor units are leased, while the third‑floor loft is vacant
- Four‑car garage with separate privacy walls between 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three units include separated utilities, individual laundry areas, and additional off-street parking.
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: 3,720‑square‑foot triplex on a 0.19‑acre lot; Three units; first- and second‑floor units are leased, while the third‑floor loft is vacant; Four‑car garage with separate privacy walls between each garage space
