1483 1485 Olivewood Avenue
Lakewood, OH 44107
Map
- 6 beds
- 2 baths
- 2,376 sqft
- $164 per sqft
- 1905 build
- – on site
Unlock an incredible investment opportunity with this well-maintained side by side brick duplex in the heart of Lakewood, Ohio! This property features two sizable units, each with 3 bedrooms and 1 bathroom, totaling 6 bedrooms and 2 bathrooms across approximately 2,400 square feet. Perfect for investors or owner-occupants looking to capitalize on rental income. Key Features: • Assumable mortgage with ~$208,000 remaining at an attractive 2.25% interest rate, offering significant savings for qualified buyers • Newer roof for low maintenance costs • Updated water tanks on both sides for reliable operation • Previously generated $3,100/month in rental income when fully rented • Potential for rent increases to enhance your return on investment • Prime Lakewood location, close to shopping, dining, and transportation • One side vacant for showing, One side Tennant occupied through August This duplex is a standout choice for immediate cash flow and future growth. The assumable mortgage at a low 2.25% rate provides a rare financing edge, complemented by the newer roof and water tanks that keep repair costs in check. One unit currently rented for $1450, and the other previously rented for $1650 provides $3,100 per month in potential rental income and room to grow, this property promises strong returns.
Last checked:
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Last updated Jul 1, 2025
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MLS# 5110016 —
The Building
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Year Built:1905
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Year Built Source:PublicRecords
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Construction Materials:Brick,Stone
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# of Buildings:1
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Roof:Asphalt,Fiberglass,Flat
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Levels:Two
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Stories:2
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Basement:Full
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Basement:true
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Above Grade Finished Area:2376.0
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Above Grade Finished Area Source:Realist
Interior
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Rooms Total:12
Room Dimensions
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Living Area:2376.0
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Living Area Units:SquareFeet
Financial & Terms
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Possession:Negotiable
Location
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Directions:South of Detroit
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Longitude:-81.793573
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Latitude:41.483019
The Property
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Property Type:ResidentialIncome
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Property Subtype:Duplex
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Property Subtype Additional:Duplex
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Parcel Number:314-07-126
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Lot Size Acres:0.082
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Lot Size Area:0.082
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Lot Size Units:Acres
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Lot Size Source:PublicRecords
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Waterfront:false
Listing Agent
- Contact info:
- Agent phone:
- (216) 780-7000
- Office phone:
- (216) 839-5500
Taxes
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Tax Year:2024
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Tax Legal Description:22 HAMBY S/L 95 ALL &94 NP 0096 SP
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Tax Annual Amount:$6,374
Beds
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Bedrooms Total:6
Baths
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Total Baths:2
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Full Baths:2
The Listing
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Home Warranty:false
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Virtual Tour URL Unbranded 3:https://www.propertypanorama.com/14831485-Olivewood-Avenue-Lakewood-OH-44107/unbranded
Heating & Cooling
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Heating:ForcedAir,Gas
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Heating:true
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Cooling:None
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Cooling:false
Utilities
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Sewer:PublicSewer
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Water Source:Public
Schools
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Elementary School District:Lakewood CSD (Cuyahoga)- 1817
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Middle School District:Lakewood CSD (Cuyahoga)- 1817
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High School District:Lakewood CSD (Cuyahoga)- 1817
The Community
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Subdivision Name:Lakewood
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Pool Private:false
Parking
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Parking Features:Paved
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Garage:false
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Attached Garage:false
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Carport:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/1/25
Jul 1, 2025
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Price Changed | MLS_NOW | $389,900 | -4.9% |
|
4/8/25
Apr 8, 2025
|
Listed / Active | MLS_NOW | $410,000 | |
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11/6/18
Nov 6, 2018
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Sold | MLS_NOW |
