Multifamily with Detached Heated
15 Grand Street Berea, OH 44017
15 Grand Street, Berea, OH, 44017
$489,900
For Sale
$489,900
MULTI_FAMILY - Berea, OH
Property Size1,800 SF
Lot Size0.22 Acres
Price / SF$272.17
Days on Market31
Property Features for 15 Grand Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Laundry Room, Bathroom 1, Bedroom 2, Bedroom 3, Basement, Bathroom 2, Bathroom 3
- Parking features
- Garage, Assigned
- Interior features
- WetBar, BuiltInFeatures, CeilingFans, CrownMolding, EatInKitchen, HisAndHersClosets, MultipleClosets, Storage, NaturalWoodwork
- Exterior features
- PrivateYard
- Appliances
- Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 364-05-018
- Size
- 1,800 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 17 BEREA SEM S/L 18 SEP 0017 EP
- Tax Annual Amount
- 9884
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 3
- Building materials
- AluminumSiding, VinylSiding
- Roof type
- Asphalt, Fiberglass
- Additional Structures
- Storage
Listing Agency
RE/MAX Above & Beyond
(440) 835-7200
25021 Center Ridge Road, Middleburg Heights, OH
Listed by
Christina Carpadis · License #2002020691
(216) 215-4232
Added: Jun 18 Checked: Jul 18 at 1:06 am
MLS# 5219773
Listing URL
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.
The sale includes three inseparable structures on the same parcel arrangement, featuring 15 Grand Street, a craftsman-style bungalow with 4 bedrooms and 1.5 bathrooms. Also included is a substantial detached, heated 5-car garage with overflow workshop space and a second-floor storage loft. The third structure is 11 Grand, a historic 2-family residence that has been updated with two new kitchens, new flooring, fresh painting, and exterior improvements including a new tear-off roof, new siding, and new gutters.
Per the City of Berea, the properties are inseparable and are described as being rented from one school year to the next by B.W. students who are able to walk to college and city amenities. Garages are noted as vacant/excluded from the leases. The listing notes that income and annual taxes for both 11 and 15 Grand are combined for reporting purposes, while details are provided only for 15 Grand.
15 Grand and 11 Grand are located in the Century Home Garden District and are positioned for close access to Baldwin Wallace and the Berea Triangle, with the area described as pedestrian-friendly via a public promenade.
Per the City of Berea, the properties are inseparable and are described as being rented from one school year to the next by B.W. students who are able to walk to college and city amenities. Garages are noted as vacant/excluded from the leases. The listing notes that income and annual taxes for both 11 and 15 Grand are combined for reporting purposes, while details are provided only for 15 Grand.
15 Grand and 11 Grand are located in the Century Home Garden District and are positioned for close access to Baldwin Wallace and the Berea Triangle, with the area described as pedestrian-friendly via a public promenade.
Key Highlights
- 3 inseparable structures included: 15 Grand St plus detached 5‑car heated garage and 11 Grand (separately parceled but tied to the sale).
- 15 Grand St: 4BR, 1.5BA craftsman‑style bungalow (Year built: 1925) with multiple closets, storage, built‑ins, and natural woodwork.
- Detached 5‑car heated garage with overflow workshop space and second‑floor storage loft (garages are vacant/excluded from lease).
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 | $29.2k | $16.20 |
| − Vacancy | −$1.9k | −$1.05 |
| EGI | $27.3k | $15.15 |
| − OpEx | −$8.2k | −$4.54 |
| NOI | $19.1k | $10.60 |
1,800 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$254.2K
$222.4K – $296.6K
NOI $17,794 @ 7.0% cap · market cap 3.63%
Theoretical Best
Warehouse
$1.44M
$1.26M – $1.68M
NOI $100,957 @ 7.0% cap · market cap 20.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Inseparable parcels include a 4BR craftsman bungalow, a heated 5-car garage/workshop, and an updated 2-family residence.
Where is this duplex located?
The property is located at 15 Grand Street Berea, OH.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 3 inseparable structures included: 15 Grand St plus detached 5‑car heated garage and 11 Grand (separately parceled but tied to the sale).; 15 Grand St: 4BR, 1.5BA craftsman‑style bungalow (Year built: 1925) with multiple closets, storage, built‑ins, and natural woodwork.; Detached 5‑car heated garage with overflow workshop space and second‑floor storage loft (garages are vacant/excluded from lease).
