Brick Quadplex with Central
For Sale
$600,000
1497 Coutant Avenue, Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
Property Size4,000 SF
Lot Size0.27 Acres
Price / SF$150
Days on Market17
Property Features for 1497 Coutant Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1, Basement
Parking features
Garage
Subdivision
Hiram M & C B Townsends Allot
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Between Detroit Ave and Franklin Blvd
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
Legal Description
21 IRVINE TOWNSEND S/L 16 SWP & 16 SEC& 17 ALL BUT NWC 18 ALL0017 WP
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 · RE/MAX International
(440) 546-1313
Listed By:
Armani Adames · License #2020004334
(216) 370-8550
Added: Jul 17
Changed: Aug 1
Last Checked: Aug 2 at 4:06AM
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 brick quadplex is fully occupied and features four 2-bedroom, 1-bath apartments. The property includes a basement and is heated with forced air, with central air cooling throughout. It is built for durability with a flat roof and public utilities, including public water and public sewer.
The site sits on a 0.2672-acre lot and contains a second building that offers a four-car garage plus an expansive unfinished space above. That upstairs area could allow for an additional 2- or 3-bedroom unit, subject to required approvals.
For sale as part of a combined parcel arrangement, the property must be sold with 11713 Nelson Ct, as the two parcels have been combined.
The site sits on a 0.2672-acre lot and contains a second building that offers a four-car garage plus an expansive unfinished space above. That upstairs area could allow for an additional 2- or 3-bedroom unit, subject to required approvals.
For sale as part of a combined parcel arrangement, the property must be sold with 11713 Nelson Ct, as the two parcels have been combined.
Key Highlights
- Fully occupied quadplex with four 2‑bedroom, 1‑bath apartments
- Second building includes a four‑car garage plus expansive unfinished space above
- 0.2672‑acre lot with 4,000 SF property size
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
981
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?
Quadplex - Fully occupied four-unit quadplex with four 2-bedroom, 1-bath apartments, central air, and a second building with garage 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.
What are key features of this property?
This property features: Fully occupied quadplex with four 2‑bedroom, 1‑bath apartments; Second building includes a four‑car garage plus expansive unfinished space above; 0.2672‑acre lot with 4,000 SF property size
