1631 Waterbury Road, Lakewood, OH 44107

Property Description

Rare opportunity to acquire a fully renovated Lakewood duplex offering more than 3,300 square feet of living space, substantial rental potential, and the added flexibility of being delivered vacant at closing. Renovated in 2022, the property features updated finishes throughout, including granite countertops, stainless steel appliances, modern tile showers, updated flooring, and numerous interior improvements. The first-floor unit offers 3 bedrooms, while the expansive upper unit spans the second and third floors and provides 4 to 5 bedrooms. Projected market rents are approximately $1,600 to $1,800 per month for the first-floor unit and $1,800 to $2,200 per month for the upper unit, creating strong income potential for an investor or an excellent opportunity for an owner-occupant looking to offset their monthly housing costs. Additional improvements include updated HVAC systems installed in 2018 and 2019, along with a new roof in 2025. The property is also Point of Sale compliant, allowing the next owner to focus on leasing and operations rather than immediate municipal requirements or major deferred maintenance. Located in one of Northeast Ohio’s most desirable rental markets, the property offers convenient access to Lakewood’s restaurants, shopping, parks, nightlife, and Downtown Cleveland. Large, renovated duplexes in this location are increasingly difficult to find. Ideal for investors seeking strong rental demand or owner-occupants looking for space, flexibility, and income potential. No seller financing. No wholesale contracts or assignments. End buyers only.