11-Unit Apartment
For Sale
Contact for pricing
16812 Madison Avenue, Lakewood, OH 44107
Brick multifamily property with one-bedroom residences, private balconies, and central heating in Lakewood.
Property Size9,363 SF
Price / SF$90.78
Days on Market69
Property Features for 16812 Madison Avenue
General Information
Standard status
Active
Size
9,363 SF
Property subtype
Multifamily
Zoning
Commercial
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$60,894
Building Details
Year Built
1923
Buildings
1
Units
11
Tenancy
Multi
Listing Agency:
Phoenix9 Realty
Listed By:
Ruset Patrascu · License #BK3536517
Source:
Crexi
Added: Jun 28
Changed: Aug 31
Last Checked: Aug 31 at 1:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phoenix9 Realty
Investment Insights
Based on property information with market context.
Built in 1923, this 9,363-square-foot brick apartment building contains 11 one-bedroom units, each with a private balcony. Central heating serves the property, and the unit configuration provides a consistent residential layout across the asset. The property is zoned Commercial and includes a laundry room that is currently out of service. The roof received a silver coating in 2026.
Lease terms are split between approximately 60% one-year agreements and 40% month-to-month arrangements. The reported cap rate is 7.16%. The property is located on Madison Avenue in Lakewood, Ohio, near shopping, neighborhood amenities, and public transportation.
Lease terms are split between approximately 60% one-year agreements and 40% month-to-month arrangements. The reported cap rate is 7.16%. The property is located on Madison Avenue in Lakewood, Ohio, near shopping, neighborhood amenities, and public transportation.
Key Highlights
- 11‑unit apartment building with 100% one‑bedroom units
- 9,363 SF brick building constructed in 1923
- Private balcony provided for every unit
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
951
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with one-bedroom residences, private balconies, and central heating in Lakewood.
Where is this apartment building located?
The property is located at 16812 Madison Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 11‑unit apartment building with 100% one‑bedroom units; 9,363 SF brick building constructed in 1923; Private balcony provided for every unit
