12050 Lake Ave | Lakewood, OH 44107
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- LoopNet Team
12050 Lake Ave
Lakewood, OH 44107
Michael Towers · Multifamily Property For Sale
·
46 Units
INVESTMENT HIGHLIGHTS
- Michael Tower, at 12050 Lake Avenue, is a 48-unit apartment building offering studio, one and two-bedroom apartments across five stories.
- The average in-place rent is $1,019.
- In a vibrant, highly sought-after suburban location.
- The property is consistently at or above 95% occupancy.
- There has been over $600,000 worth of capital improvements over the past two years.
PROPERTY FACTS
| No. Units | 46 | Building Size | 96,650 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 6 |
| Apartment Style | Mid-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.63/1,000 SF |
| Lot Size | 0.72 AC | ||
| Zoning | M-H | ||
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 96,650 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 1963 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | M-H |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- High Speed Internet Access
- Views
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Security System
- Laundry Service
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 750 |
| 2+1 | 21 | - | 900 - 1,000 |
| Studios | 1 | - | 600 |
PROPERTY TAXES
| Parcel Number | 312-10-021 | Improvements Assessment | $1,254,321 |
| Land Assessment | $164,748 | Total Assessment | $1,419,069 |
PROPERTY TAXES
Parcel Number
312-10-021
Land Assessment
$164,748
Improvements Assessment
$1,254,321
Total Assessment
$1,419,069
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