Renovated Lakewood
1631 Waterbury Road Lakewood, OH 44107
New
For Sale
$425,000
MULTI_FAMILY - Lakewood, OH
Property Size3,347 SF
Lot Size0.16 Acres
Price / SF$126.98
Days on Market1
Property Features for 1631 Waterbury Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 7, Bedroom 4, Basement, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 2, Laundry Room, Bedroom 6, Bathroom 2
- Parking features
- Garage
- Interior features
- CeilingFans, CrownMolding, GraniteCounters, NaturalWoodwork
- Exterior features
- Balcony
- Standard status
- Active
- APN
- 315-06-156
- Size
- 3,347 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 21 WATBHTS 0020 ALL
- Tax Annual Amount
- 5927
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1919
- Floors in Building
- 3
- Building materials
- AluminumSiding
- Roof type
- Asphalt, Fiberglass
Listing Agency:
Keller Williams Living
(440) 318-1620
Listed By:
Michael L Magno · License #2016003542
(216) 236-8849
Added: Jul 24
Last Checked: Jul 24 at 10:06AM
MLS# 5230414
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 renovated duplex was renovated in 2022 and includes updated finishes throughout. Improvements feature granite countertops, stainless steel appliances, modern tile showers, and updated flooring, along with numerous interior upgrades. The first-floor unit offers three bedrooms, while the expansive upper unit spans the second and third floors and provides four to five bedrooms.
Additional capital improvements include HVAC systems installed in 2018 and 2019 and a new roof in 2025. The property is Point of Sale compliant. It is listed for sale with delivery vacant at closing, providing flexibility for an owner-occupant or an investor planning leasing and operations after purchase.
Located at 1631 Waterbury Road in Lakewood, Ohio, the property sits on a 0.155-acre lot. The reported total living area is 3,347 square feet.
Additional capital improvements include HVAC systems installed in 2018 and 2019 and a new roof in 2025. The property is Point of Sale compliant. It is listed for sale with delivery vacant at closing, providing flexibility for an owner-occupant or an investor planning leasing and operations after purchase.
Located at 1631 Waterbury Road in Lakewood, Ohio, the property sits on a 0.155-acre lot. The reported total living area is 3,347 square feet.
Key Highlights
- Fully renovated Lakewood duplex with 7 bedrooms across a first‑floor 3‑bedroom unit and an upper unit spanning 2nd–3rd floors
- More than 3,300 SF of living space; delivered vacant at closing for immediate occupancy or leasing
- Renovated in 2022 with granite countertops, stainless steel appliances, modern tile showers, updated flooring, and other interior improvements
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 | $54.2k | $16.20 |
| − Vacancy | −$3.5k | −$1.05 |
| EGI | $50.7k | $15.15 |
| − OpEx | −$15.2k | −$4.54 |
| NOI | $35.5k | $10.60 |
3,347 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$507.0K
$443.6K – $591.5K
NOI $35,488 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$472.7K
$413.6K – $551.4K
NOI $33,086 @ 7.0% cap · market cap 7.78%
Theoretical Best
Warehouse
$2.68M
$2.35M – $3.13M
NOI $187,723 @ 7.0% cap · market cap 44.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully renovated duplex with updated kitchens and baths, delivered vacant at closing for flexible occupancy or leasing.
Where is this duplex located?
The property is located at 1631 Waterbury Road Lakewood, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Fully renovated Lakewood duplex with 7 bedrooms across a first‑floor 3‑bedroom unit and an upper unit spanning 2nd–3rd floors; More than 3,300 SF of living space; delivered vacant at closing for immediate occupancy or leasing; Renovated in 2022 with granite countertops, stainless steel appliances, modern tile showers, updated flooring, and other interior improvements
