Lakewood Duplex with Modern
15539 Delaware Avenue, Lakewood, OH 44107
New
MULTI_FAMILY - Lakewood, OH
Property size:
2,484 SFLot size:
0.15 AcresPrice / SF:
$150/SF- Added:
- May 28, 2026
- Days on Market:
- 4
- Last Refresh:
- May 31 at 8:06 pm
Property Features for 15539 Delaware Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 2, Bedroom 4, Laundry Room, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
- Parking features
- Garage, Open
- Appliances
- Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 313-17-067
- Size
- 2,484 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 19 EP 277.25 E OF DIXON SUB
- Tax Annual Amount
- 6667
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1924
- Floors in Building
- 2
- Building materials
- AluminumSiding, VinylSiding
- Roof type
- Asphalt
Listing agent Christopher J Barthol License #2021000037 (440) 342-6458
Listing office RE/MAX Above & Beyond 25021 Center Ridge Road, Middleburg Heights, OH (440) 835-7200
Listing date May 28, 2026
MLS# 5213571
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.
HighLights
- Income‑producing two‑family home in desirable Lakewood location.
- Modernized kitchens feature granite countertops and included appliances (including dishwashers).
- New furnaces and central air conditioning systems (replaced in 2024).
- Two‑car garage with openers.
- Upper unit features an open balcony.
- Decorative fireplaces in main living areas.
Overview
This meticulously maintained two-family home is located in Lakewood, Ohio. The property offers expansive living space and combines old-world charm with modern updates. Both units feature decorative fireplaces in the main living areas and upgraded kitchens with granite countertops and included appliances, including dishwashers. The upper unit includes an open balcony. Exterior features include a two-car garage equipped with openers. The property has undergone mechanical upgrades, with both furnaces and central air conditioning systems replaced in 2024. The property size is 2484 square feet and the lot size is 0.15 acres. A clear Point of Sale (POS) violation report will be provided upon title transfer. This property can be used as an investment or for owner-occupancy.
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 | $40.2k | $16.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $37.6k | $15.15 |
| − OpEx | −$11.3k | −$4.54 |
| NOI | $26.3k | $10.60 |
2,484 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$376.3K
$329.2K – $439.0K
NOI $26,338 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$350.8K
$306.9K – $409.3K
NOI $24,555 @ 7.0% cap · market cap 6.55%
Theoretical Best
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,320 @ 7.0% cap · market cap 37.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.806322
- Latitude
- 41.470984
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Meticulously maintained Lakewood duplex with modern updates and old-world charm.
Where is this duplex located?
The property is located at 15539 Delaware Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Income‑producing two‑family home in desirable Lakewood location.; Modernized kitchens feature granite countertops and included appliances (including dishwashers).; New furnaces and central air conditioning systems (replaced in 2024).
