Let’s Find Your New Property 

Choosing the right real estate partner is the first step toward finding your dream home. The Ed Huck Team is here to guide you through every step of the journey. Start by creating a saved search so we can help match you with the best properties. 

Let’s find your new home.

Save
Ask
Tour
Hide
Share
$999,000
44 Days On Site

16808 Madison Avenue
Lakewood, OH 44107

For Sale|Apartment|Pending
0
Beds
0
Full Baths
0
Partial Baths
7,527
SqFt
$133
/SqFt
1920
Built
Subdivision:
Mathew & Gilbert
County:
Cuyahoga
Call Now: 440-617-2500
Is this the home for you? We can help make it yours.
440-617-2500
16808 Madison Avenue16808 Madison Avenue16808 Madison Avenue16808 Madison Avenue
Save
Ask
Tour
Hide
Share

Looking for a prime investment property with exceptional cash flow? This building delivers on all fronts. Over the past eight years, the building has been extensively renovated, including a new roof, heating, plumbing, and electrical systems. Plus, each unit is thoughtfully updated, down to the studs, to enhance tenant satisfaction and retention, resulting in a fully occupied building with a stable and predictable income stream. Lakewood’s rental demand is rising, further strengthening this property’s occupancy and cash flow potential. The building includes three one-bedroom and five two-bedroom units. With rental rates in Lakewood reaching as high as $900-$1,100 for single bed units and $1,400-$1,600 for two bedrooms, this configuration provides a potential monthly income of $8,500 to $10,000 plus, translating to an annual income of $102,600 to $120,000 or more. With a sale price of $999,000, investors can expect a cap rate of 5-8%, a highly competitive return for the Lakewood market. Located in the desirable western end of Lakewood, this property offers convenient walkable access to neighborhood eateries, shopping, the Metroparks, and bike-friendly streets, making it a highly appealing location for tenants. Additionally, the building features eight off-street parking spaces behind the building—an invaluable amenity in this urban-suburban setting. As rental rates continue to climb, this property is strategically positioned to yield consistent cash flow and long-term appreciation. For investors seeking a stable, income-generating asset in a high-demand area, this turnkey property represents a rare opportunity. Combining modern upgrades, solid tenant retention, and an attractive cap rate, this property is ideal for those looking to secure a well-maintained asset poised for future growth and long-term wealth building.

Save
Ask
Tour
Hide
Share
Listing Snapshot
Price 
$999,000
Days On Site 
44 Days
Bedrooms 
N/A
Inside Area (SqFt) 
7,527 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1309 Acres
Year Built 
1920
MLS® Number 
5074653
Status 
Pending
Property Tax 
$7,786
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
11 hours agoStatus changed to Pending
11 hours agoListing updated with changes from the MLS®
a month agoListing first seen on site
General Features
Acres 
0.1309
Additional Property Use 
Residential
Number Of Stories 
3
Parking 
AsphaltConcreteOn SiteParking Lot
Parking Spaces 
8
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
7527
Stories 
Three Or More
Water Source 
Public
Interior Features
Basement 
Apartment
Cooling 
Window Unit(s)
Heating 
Hot WaterSteam
Save
Ask
Tour
Hide
Share
Community Features
Financing Terms Available 
CashConventional
School District 
Lakewood CSD (Cuyahoga)- 1817
Township 
Lakewood
Schools
School District
Lakewood CSD (Cuyahoga)- 1817
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of Scott Carpenter of Keller Williams Greater Metropolitan



The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged. Information Deemed Reliable But Not Guaranteed. Copyright 2024 - Multiple Listing Service, Inc. – All Rights Reserved.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
Save
Ask
Tour
Hide
Share