1631 Waterbury Road, Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
- Added:
- Jun 25, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 27 at 6:06 pm
Property Features for 1631 Waterbury Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bathroom 1, Basement, Laundry Room, Bedroom 5, Bedroom 3, Bedroom 2, Bedroom 7, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 4
- 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 agent Michael L Magno License #2016003542 (216) 236-8849
Listing office Keller Williams Living 32875 Solon Road, Suite 100, Solon, OH (440) 318-1620
Listing date Jun 25, 2026
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
- Fully renovated Lakewood duplex with over 3,300 SF of living space
- Renovated in 2022 with updated finishes including granite countertops and stainless steel appliances
- Modern tile showers and other mechanical improvements completed as part of the 2022 renovation
- Updated HVAC systems installed in 2018/2019
- First‑floor unit: 3 bedrooms, occupied on a month‑to‑month basis at $1,400/month
- Upper unit spans 2nd and 3rd floors (4–5 bedrooms), currently vacant; previously rented for $2,100/month
Overview
The duplex is located at 1631 Waterbury Road in Lakewood, Ohio 44107. It is being offered for sale as a turnkey-ready rental property, with proximity to Lakewood’s restaurants, shopping, parks, nightlife, and convenient access to Downtown Cleveland.
For owner-occupants, the occupied lower unit can help offset carrying costs while keeping the upper space available for personal use or future leasing. For investors, the vacant upper unit provides flexibility to confirm the best operational plan after acquisition. The seller states there is no seller financing and requests that offers be made by end buyers only.
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 | $54.2k | $16.20 |
| − Vacancy | −$3.5k | −$1.05 |
| EGI | $50.7k | $15.15 |
| − OpEx | −$15.2k | −$4.54 |
| NOI | $35.5k | $10.60 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.78258
- Latitude
- 41.478421
