1246 Cook Avenue, Lakewood, OH 44107

Property Description

Prepare to be moved! Discover an outstanding investment opportunity at 1246 Cook Avenue in Lakewood—a spacious and well-maintained triplex offering 3,022 square feet of living space across three updated units. This income-generating property is perfect for investors seeking immediate returns and long-term value or owners looking to offset their mortgage with rental income. The first-floor unit features 1,306 square feet and includes two bedrooms, one full bathroom, and a versatile bonus room ideal. This unit is currently occupied by a tenant through July 1st, offering immediate rental income. The second-floor unit, also updated, includes 1,144 square feet of living space with two bedrooms, one bathroom, and a similar bonus room layout that enhances tenant appeal. This unit will be occupied by a tenant through July 10th. The third-floor unit is a charming 575-square-foot studio, complete with a full bathroom and a private top balcony—perfect for capturing rental demand from young professionals or short-term tenants. This unit's tenant has a lease in place through August 17th. The total rental income from all three units equals $3900 with ample potential for increased income over time. All three units have been thoughtfully updated with newer appliances, modern flooring, stylish vanities, and contemporary lighting. Recent improvements to the property include a newer roof and gutters (2017), a waterproofed basement with sump pump (2024), central air conditioning in units 1 and 2 (2019), and 2 newer hot water tanks (2023). Outdoor features include a partially fenced yard with a patio area for recreation, a two-car detached garage, and a paved driveway that provides ample off-street parking. Situated close to Lakewood Park and within walking distance of the city’s vibrant dining, shopping, and entertainment scene, this triplex combines excellent location, updated features, and immediate rental income —making it a smart addition to any real estate portfolio.