Property profile

12065 Edgewater Dr Lakewood, OH 44107

OFF-MARKET
Other warehouses
Property ID
US66-1937400
29,779 SF 0.38 ac lot Built 1927
Entity Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This 25-unit multifamily property is located in Lakewood, Ohio, near Lake Erie, with six units offering direct lake views. The building features a unit mix of one-bedroom, two-bedroom, and three-bedroom/two-bath layouts, including 3 units with 3 beds/2 baths, 10 units with 2 beds, 11 units with 1 bed, and 1 studio unit. Parking includes 20 spaces total, with 8 garage spots. Interior features across units include kitchen and bath upgrades, with renovations described as involving new kitchens (modern cabinetry and counters), refinished hardwood or new LVP flooring, and fully tiled contemporary baths. Building systems include updated electrical service to all units (100-amp), with significant plumbing improvements to plumbing stacks and drains, a boiler installed in 2024, and additional electric work planned for 2025 (as described). The property has also undergone capital improvements including electrical systems, plumbing stacks and drains, and windows. It is situated along Edgewater Drive, providing access to Edgewater Park and retail along Clifton Boulevard and relatively quick access to Downtown Cleveland.

Property profile

Verified
Property type Other warehouses
Use group WAREHOUSE, STORAGE
Year built 1927
Construction TYPE NOT SPECIFIED
Total area 29,779 SF
Lot 0.38 ac (16,463 SF)
Zoning code MH
APN 312-10-013
UPID US66-1937400

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

12065 Edgewater Dr Lakewood, OH 44107-1789
Lakewood metro Census 160603 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.68M
CAP Approach CAP
$2.29M
Comparable Approach Comparable
$2.09M
Blend (final) Blend
$1.94M

Owner & transaction history

since 2020
Last sale
$1.6M
7 recorded transactions
2022
Price N/A
2020
$1.6M
2012
$535,000
1997
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

MH · Lakewood, OH
Zoning description

H. R-MH - Mobile Home Residential: The R-MH district is intended to allow for developments where spaces are either sold or rented for the placement of a mobile home in a park-like setting, where the homes are used as sea…

General category RESIDENTIAL
Top alternative use upside
Auto repair, garage $2.7M +51.4%
Apartment house (5+ units) $2.5M +43.4%
Commercial (general) $2.5M +41.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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