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$ 5,999,900
Est. payment /mo
Active
12050 Lake AVE Lakewood, OH 44107
0.72 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Rockport Sec 21
MLS Listing ID 5137690
HOA Y/N No
Year Built 1963
Annual Tax Amount $102,024
Tax Year 2024
Lot Size 0.718 Acres
Acres 0.7184
Property Sub-Type Apartment
Property Description
Exceptional Investment Opportunity – Michael Tower | 12050 Lake Avenue, Lakewood
Michael Tower presents a rare chance to acquire a stabilized, income-generating 48-unit apartment building in the heart of Lakewood, one of Northeast Ohio's most desirable rental markets. This six-story building offers a balanced mix of studio, one-bedroom, and two-bedroom apartments, catering to a wide range of tenant needs. Ideally located near Edgewater Park, the Gold Coast, and Clifton Boulevard, Michael Tower benefits from high rental demand, strong tenant retention, and walkable access to local shopping, dining, and public transportation.
The building features 24 hour secure entry, elevator access, on-site laundry, and ample parking, with many units offering private balconies and functional layouts filled with natural light. The property recently underwent over $500,000 in renovations, including a new roof installed within the last two years. With consistent occupancy and well-maintained infrastructure, this asset is primed for steady cash flow. Whether you're expanding an existing portfolio or entering the commercial space, Michael Tower combines location, scale, and potential—all in one turnkey property.
Don't miss this opportunity to own a solid commercial asset in a thriving Cleveland-area neighborhood.
Michael Tower presents a rare chance to acquire a stabilized, income-generating 48-unit apartment building in the heart of Lakewood, one of Northeast Ohio's most desirable rental markets. This six-story building offers a balanced mix of studio, one-bedroom, and two-bedroom apartments, catering to a wide range of tenant needs. Ideally located near Edgewater Park, the Gold Coast, and Clifton Boulevard, Michael Tower benefits from high rental demand, strong tenant retention, and walkable access to local shopping, dining, and public transportation.
The building features 24 hour secure entry, elevator access, on-site laundry, and ample parking, with many units offering private balconies and functional layouts filled with natural light. The property recently underwent over $500,000 in renovations, including a new roof installed within the last two years. With consistent occupancy and well-maintained infrastructure, this asset is primed for steady cash flow. Whether you're expanding an existing portfolio or entering the commercial space, Michael Tower combines location, scale, and potential—all in one turnkey property.
Don't miss this opportunity to own a solid commercial asset in a thriving Cleveland-area neighborhood.
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Lakewood Csd (Cuyahoga)- 1817
Others
Tax ID 312-10-021
Listed by Shoshana Socher • Keller Williams Greater Metropolitan • [email protected], 216-255-7377
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