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12050 Lake Avenue, Lakewood, OH 44107

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For Sale

$5,999,900

0.72 acres

Estimated Payment

$      /mo. †

APR for 30 years

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  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 0.7 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 5137690

Courtesy Of Greater Cleveland

(216) 839-5500

Property Features

  • Age
    Over 50 Years Old
  • Heating System
    Steam
  • Lot Size
    0.72 Acres

Map and Directions

Directions to 12050 Lake Avenue, Lakewood, OH 44107

Home seller CENTURY 21 HomeStar

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 HomeStar

(440) 449-9100
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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