2-Unit Residential
New
For Sale
$380,000
14969 Delaware Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,172 SF
Lot Size0.09 Acres
Price / SF$174.95
Days on Market3
Property Features for 14969 Delaware Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
Garage, Driveway, Open
Subdivision
Hansen
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Take Warren rd exit. Head north on Alger. Turn west onto Delaware Ave.
Standard status
Active
APN
314-17-144
Size
2,172 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
19 ANDMAR 0028 ALL
Tax Annual Amount
6797
Legal Description
19 ANDMAR 0028 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
front porches
attic
Building Details
Year built
1924
Floors in Building
2
Building materials
WoodSiding
Roof type
Asbestos Shingle
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Jared Lee · License #2021006821
(330) 621-8918
Added: Oct 13
Last Checked: Oct 15 at 12:06PM
MLS# 5252910
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 2,172-square-foot duplex, built in 1924, contains two apartments, each with two bedrooms, one bathroom, living and dining areas, hardwood flooring, and original built-in cabinetry. Both units have full-width front porches. The upper apartment includes access to a partially finished attic. A detached two-car garage and driveway provide on-site parking. The second-floor unit is vacant, and the first-floor tenant is expected to vacate.
The property occupies a 0.09-acre parcel in Lakewood, near shopping, restaurants, parks, and neighborhood amenities. Reported property updates include construction of the garage and replacement of electrical panels in 2021, exterior painting in 2019, and window-unit cooling. Public water and sewer serve the property.
The property occupies a 0.09-acre parcel in Lakewood, near shopping, restaurants, parks, and neighborhood amenities. Reported property updates include construction of the garage and replacement of electrical panels in 2021, exterior painting in 2019, and window-unit cooling. Public water and sewer serve the property.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 2,172 square feet on a 0.09‑acre parcel
- Detached two‑car garage constructed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,029
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,580
$460.6K
Cap Rate 7%
$328,986
$329.0K
Cap Rate 9%
$255,878
$255.9K
Market Conditions
NOI Build-Up for 2,172 SF
Gross rent
$35.2K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.9K $15.15/SF
− OpEx
−$9.9K −$4.54/SF
NOI
$23.0K $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%
$460,580
Cap Rate 7%
$328,986
Cap Rate 9%
$255,878
Alternative Uses
Best Use
Multifamily LT 5
$329.0K
$287.9K – $383.8K
NOI $23,029 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$306.7K
$268.4K – $357.9K
NOI $21,471 @ 7.0% cap · market cap 5.65%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,821 @ 7.0% cap · market cap 32.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
674
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?
Duplex - Two two-bedroom apartments feature hardwood floors, built-in cabinetry, and full-width front porches.
Where is this duplex located?
The property is located at 14969 Delaware 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: Two apartments, each with 2 bedrooms and 1 bathroom; 2,172 square feet on a 0.09‑acre parcel; Detached two‑car garage constructed in 2021
