Four-Unit Quadplex Income
1497 Coutant Avenue Lakewood, OH 44107
New
1497 Coutant Avenue, Lakewood, OH, 44107
$600,000
For Sale
$600,000
MULTI_FAMILY - Lakewood, OH
Property Size4,000 SF
Lot Size0.27 Acres
Price / SF$150
Days on Market7
Property Features for 1497 Coutant Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 8, Bathroom 2, Basement, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 7, Bathroom 4, Bathroom 3, Bedroom 1
- Parking features
- Garage
- Standard status
- Active
- APN
- 315-14-040
- Size
- 4,000 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 21 IRVINE TOWNSEND S/L 16 SWP & 16 SEC& 17 ALL BUT NWC 18 ALL0017 WP
- Tax Annual Amount
- 9937
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1916
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Flat
Listing agency
RE/MAX Above & Beyond
(440) 546-1313
Listed by
Armani Adames · License #2020004334
(216) 370-8550
Added: Jul 17 Checked: Jul 23 at 10:06AM
MLS# 5227228
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 fully occupied quadplex includes four apartments configured as 2 bedrooms and 1 bathroom each. The offering also includes a second building with a four-car garage and an expansive unfinished area above, which is described as potential space for an additional 2 or 3 bedroom unit.
The property is located in Lakewood, OH, near shopping, restaurants, parks, and major highways, supporting convenient day-to-day access for residents.
Per the remarks, the parcels must be sold together, as the property is combined with 11713 Nelson Ct. The information provided states the current rental income is $5,025 per month.
The property is located in Lakewood, OH, near shopping, restaurants, parks, and major highways, supporting convenient day-to-day access for residents.
Per the remarks, the parcels must be sold together, as the property is combined with 11713 Nelson Ct. The information provided states the current rental income is $5,025 per month.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $16.20 |
| − Vacancy | −$4.2k | −$1.05 |
| EGI | $60.6k | $15.15 |
| − OpEx | −$18.2k | −$4.54 |
| NOI | $42.4k | $10.60 |
4,000 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$605.9K
$530.2K – $706.9K
NOI $42,412 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$564.9K
$494.3K – $659.0K
NOI $39,541 @ 7.0% cap · market cap 6.59%
Theoretical Best
Warehouse
$3.20M
$2.80M – $3.74M
NOI $224,348 @ 7.0% cap · market cap 37.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Fully occupied quadplex offering four 2-bedroom, 1-bath units plus an additional building with garage and unfinished space.
Where is this quadplex located?
The property is located at 1497 Coutant Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $600,000.
