$440,000

1631 Waterbury Road, Lakewood, OH 44107

7 beds |
2 baths |
3,347 sqft

Duplex
Built in 1919
6,752sqft lot
2 car garage
$131/sqft
Listed 9 days ago

Property Description

Rare opportunity to acquire a fully renovated Lakewood duplex offering over 3,300 square feet of living space and exceptional rental potential. Renovated in 2022, this property features updated finishes throughout, including granite countertops, stainless steel appliances, modern tile showers, and numerous mechanical improvements. The first-floor unit offers 3 bedrooms and is currently occupied on a month-to-month basis at $1,400 per month. The expansive upper unit encompasses both the second and third floors, offering 4-5 bedrooms and was previously rented for $2,100 per month, with potential for increased rental income in today's market. Whether you're looking to owner-occupy or maximize cash flow, the vacant upper unit provides immediate flexibility. Additional improvements include updated HVAC systems installed in 2018/2019. The property is Point of Sale compliant, allowing a buyer to focus on operations rather than deferred maintenance. New Roof too! Located in one of Northeast Ohio's most sought-after rental markets, residents enjoy easy access to Lakewood's vibrant restaurant scene, shopping, parks, nightlife, and convenient access to Downtown Cleveland. Opportunities to acquire a renovated, large-format duplex in this location are increasingly difficult to find. Ideal for investors seeking strong rental demand or owner-occupants looking to offset their mortgage with rental income. Absolutely no seller financing, no wholesale contracts, END BUYERS ONLY.

Listing Status:: Active
Data Last Updated:: July 5, 2026 at 2:18AM
Listing Office:: Keller Williams Living : 440-318-1620
Listing Agent:: Michael L Magno : 216-236-8849
MLS ID:: 5222415

General: Ceiling Fan(s)Crown MoldingGranite CountersNatural Woodwork
Laundry: Common AreaLower Level
Basement: FullUnfinished
A/C: Central Air
Heating: Forced Air

General: Balcony
Other Structures: Balcony
Parking: DetachedGarage

Roofing: AsphaltFiberglass
General: Aluminum Siding3

Originating MLS: NOWDD_NORM
School District: Lakewood CSD (Cuyahoga)- 1817
County: Cuyahoga

Zoning: 21 WATBHTS 0020 ALL315-06-156

Water: Public
Sewer: Public Sewer

Source: NOWDD_NORM

This listing courtesy of Michael L Magno , Keller Williams Living

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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