Renovated Three-Story Duplex with
For Sale
$489,999
2124 Wascana Avenue, Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
Property Size3,278 SF
Lot Size0.11 Acres
Price / SF$149.48
Days on Market14
Property Features for 2124 Wascana Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Laundry Room, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 5, Basement, Bedroom 6, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Garage
Exterior features
Balcony
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Subdivision
Eg Gilberts Sub 1
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
off wascana ave
Standard status
Active
APN
314-25-072
Size
3,278 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
20 GILBERT#1 0083 ALL
Tax Annual Amount
5770
Legal Description
20 GILBERT#1 0083 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
private laundry area
Building Details
Year built
1923
Floors in Building
3
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Coldwell Banker Schmidt Realty · Coldwell Banker Real Estate
(440) 327-2123
Listed By:
Christopher A Frederick · License #426983
(216) 210-7653
Added: Jul 20
Changed: Aug 2
Last Checked: Aug 2 at 4:06AM
MLS# 5228621
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.
Completely remodeled three-story duplex offering six bedrooms and three full baths, with flexible living and rental options. The first-floor unit features a two-bedroom, one-bath layout, while the upper unit spans the second and third floors with four bedrooms and two baths. Each unit includes its own private laundry area. Interior highlights include high ceilings, abundant windows, and an open-concept design, along with kitchens featuring granite countertops, premium appliances, and designer tile backsplashes. Bathrooms are custom-tiled, supported by quality finishes throughout. Central air conditioning provides year-round comfort.
Exterior and core systems include vinyl siding, vinyl windows, a newer garage, partial driveway replacement, and an asphalt roof. The property is heated with forced air natural gas. Built in 1923, the duplex connects to public water and public sewer. A balcony and garage parking are included, and immediate occupancy is available with Point-of-Sale compliance.
The configuration supports an owner-occupant approach (live in one unit, rent the other) or an income-focused strategy, with the two-unit layout and separate laundry areas offering day-to-day convenience for tenants.
Exterior and core systems include vinyl siding, vinyl windows, a newer garage, partial driveway replacement, and an asphalt roof. The property is heated with forced air natural gas. Built in 1923, the duplex connects to public water and public sewer. A balcony and garage parking are included, and immediate occupancy is available with Point-of-Sale compliance.
The configuration supports an owner-occupant approach (live in one unit, rent the other) or an income-focused strategy, with the two-unit layout and separate laundry areas offering day-to-day convenience for tenants.
Key Highlights
- Lot size: 0.1102 acres
- Total size: 3,278 SF
- Six bedrooms, three full baths
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 | $53.1k | $16.20 |
| − Vacancy | −$3.5k | −$1.05 |
| EGI | $49.7k | $15.15 |
| − OpEx | −$14.9k | −$4.54 |
| NOI | $34.8k | $10.60 |
3,278 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$496.5K
$434.5K – $579.3K
NOI $34,756 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$462.9K
$405.1K – $540.1K
NOI $32,404 @ 7.0% cap · market cap 6.61%
Theoretical Best
Warehouse
$2.63M
$2.30M – $3.06M
NOI $183,853 @ 7.0% cap · market cap 37.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
651
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?
Duplex - Completely remodeled three-story duplex with central air, private in-unit laundry, and a balcony.
Where is this duplex located?
The property is located at 2124 Wascana Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $489,999.
What are key features of this property?
This property features: Lot size: 0.1102 acres; Total size: 3,278 SF; Six bedrooms, three full baths
