1557 Newman AVE Active Save Request In-Person Tour Request Virtual Tour
Lakewood,OH 44107
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,980 sqft
Price per Sqft $166
Subdivision Newman
MLS Listing ID 5113652
Bedrooms 5
Full Baths 2
Half Baths 1
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 1,980
Year Built 1908
Annual Tax Amount $4,516
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Duplex
Property Description
Welcome to 1557 Newman Ave — a fully renovated duplex offering incredible income potential and flexibility. With the lower unit previously rented at $1,300/month and the upper unit projected to earn $1,900+/month, this property easily fits the criteria for investors seeking strong returns. It's also perfect for owner-occupants looking to offset a mortgage with rental income, or those wanting to convert it into a spacious single-family home.
The property features 5 bedrooms and 3 full baths in total: a 2-bed/1-bath unit on the first floor and a large 3-bed/2-bath unit spanning the second and third floors. The upper unit includes an updated kitchen and a brand-new third-floor bathroom with new stairs.
Recent upgrades (2023–2024) include:
All new appliances
New flooring throughout both units
New front porch and upper balcony
Fresh exterior paint
New gutters and entry doors
Majority of windows replaced
Located in a desirable, walkable Lakewood neighborhood near parks, dining, and RTA transit, this turnkey property requires minimal maintenance and is poised for immediate cash flow.
Don't miss this rare chance to own a high-yield asset in one of Greater Cleveland's hottest rental markets!
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling None
Fireplace No
Appliance Dryer,Microwave,Range,Refrigerator,Washer
Exterior
Parking Features On Street
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Construction Status Updated/Remodeled
Schools
School District Lakewood Csd (Cuyahoga)- 1817
Others
Tax ID 315-14-068
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition Standard