2018 Dowd Avenue, Lakewood, OH 44107

Property Description

Lakewood Five-Unit Value-Add Investment Opportunity! Exceptional opportunity for investors to acquire an all brick multifamily property in the established in Lakewood's Birdtown market with significant potential to add value through renovations, improved management, and rental optimization. Long held by the same family, this property offers a chance to reposition a five-unit asset consisting of three 2-bedroom units and two 1-bedroom units. Rents have not kept pace with current market conditions, and the property requires updating and deferred maintenance, creating an opportunity for an investor ready to take on a renovation project. The building offers approximately 3,472 square feet of usable space per the county auditor's website, a brick exterior, some updated windows, and parking for four vehicles. Additional features include a large attic with potential for future finishing, along with basement storage and office space. Utilities are individually metered, with the exception of water. An excellent opportunity for an investor looking to renovate, improve operations, and unlock the property's long-term income potential in Lakewood. Great location - convenient access to local shopping, restaurants, parks, and major commuter routes. Buyers to conduct their own due diligence regarding property condition, renovation requirements, rental income, expenses, and the feasibility of any proposed improvements. No owner financing, no wholesalers, Selling AS-IS.