Brick Quadplex with
1497 Coutant Avenue, Lakewood, OH 44107
For Sale
$600,000
ResidentialIncome, Lakewood, OH
Property Size4,000 SF
Lot Size0.27 Acres
Price / SF$150
Days on Market48
Property Features for 1497 Coutant Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
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Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
RE/MAX Above & Beyond · RE/MAX International
(440) 546-1313
Listed By:
Armani Adames · License #2020004334
(216) 370-8550
Added: Sep 23
Changed: Oct 24
Last Checked: Nov 9 at 3:06AM
MLS# 5247584
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.
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Investment Insights
Based on property information with market context.
This 4,000-square-foot quadplex contains four occupied apartments, each configured with 2 bedrooms and 1 bathroom. Built in 1916 with brick construction, the property features forced-air heat, central air, a flat roof, public water, and public sewer. A separate building adds a 4-car garage and unfinished space above that could accommodate another 2- or 3-bedroom unit, subject to applicable approvals.
The property occupies 0.2672 acres and must be sold together with 11713 Nelson Ct., as the parcels have been combined. The offering is located in Lakewood, Ohio, near shopping, restaurants, parks, and major highways.
The property occupies 0.2672 acres and must be sold together with 11713 Nelson Ct., as the parcels have been combined. The offering is located in Lakewood, Ohio, near shopping, restaurants, parks, and major highways.
Key Highlights
- Four occupied apartments, each with 2 bedrooms and 1 bathroom
- 4,000 square feet on a 0.2672‑acre parcel
- Separate building includes a 4‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,412
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$848,240
$848.2K
Cap Rate 7%
$605,886
$605.9K
Cap Rate 9%
$471,244
$471.2K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$64.8K $16.20/SF
− Vacancy
−$4.2K −$1.05/SF
EGI
$60.6K $15.15/SF
− OpEx
−$18.2K −$4.54/SF
NOI
$42.4K $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 Rate 5%
$848,240
Cap Rate 7%
$605,886
Cap Rate 9%
$471,244
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 authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
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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
$241,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Cuyahoga County, OH
Properties on Market for Quadplexes in Cuyahoga County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential property with two-bedroom apartments and a separate garage building.
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.
What are key features of this property?
This property features: Four occupied apartments, each with 2 bedrooms and 1 bathroom; 4,000 square feet on a 0.2672‑acre parcel; Separate building includes a 4‑car garage
