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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 | $917,210 |
| Land Assessment | $120,470 | Total Assessment | $1,037,680 |
Property Taxes
Parcel Number
312-10-021
Land Assessment
$120,470
Improvements Assessment
$917,210
Total Assessment
$1,037,680
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