USAOHLakewoodRockport1346 Kenilworth Avenue
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$2,995,000

For Sale

2 days ago

1346 Kenilworth Avenue, Lakewood, OH

Condo

MLS® 5235310

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Commercial Sale
Size -
Garage Yes
HOA Fees $22,786
Taxes $49,830
Days Active 2
Approx. Age 1929
MLS® Number 5235310

Property Address: 1346 Kenilworth Avenue, Lakewood, OH, 44107

Average square foot calculated using Size range provided by listing agent.

Description

Rare opportunity to acquire a 32-unit apartment portfolio in the heart of Lakewood, one of Northeast Ohio's strongest rental markets. This offering includes two neighboring brick apartment buildings totaling 28, 167 SF and is 97% occupied. Ownership has invested over $460, 000 in recent capital improvements, including renovated kitchens and bathrooms, LVP flooring, upgraded electrical panels throughout, common area improvements, structural garage repairs, plumbing upgrades, and more, allowing the next owner to focus on increasing income rather than major renovations. Current Gross Operating Income is $376, 572 with a current NOI of $200, 777. Year 1 pro forma projects a $275, 107 NOI and an 8.40% cap rate through continued rent growth, utility reimbursements already being implemented, and ancillary income opportunities. Amenities include attached garages, owner-owned laundry, tenant storage, and strong in-place occupancy. Located in Ohio's most walkable city with 50% of residents being tenants andnd 3% YoY rent growth. Homes sell over asking over 50% of the time with 7% increasing value YoY. Safe location and acquisition.
MLS® Number5235310
Locker
Ensuite Laundry
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageYes
Approx. Age1929
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatHot Water, Steam
A/CWindow Units

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 10, 2026List Date
$2,995,000List Price
  • Commute

Commute

Starting Address
Destination Address
1346 Kenilworth Avenue, Lakewood, OH

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