Commercial Real Estate for Sale at 12050 Lake Avenue in Lakewood, OH for $5,999,900

Listing data updated July 10, 2025 - 1:36pm
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12050 Lake Avenue | Lakewood

$5,999,900 | 0.0 Sq. Ft.

Exceptional Investment Opportunity \u2013 Michael Tower | 12050 Lake Avenue, Lakewood\r\n 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\u2019s 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.\r\nThe 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\u0027re expanding an existing portfolio or entering the commercial space, Michael Tower combines location, scale, and potential\u2014all in one turnkey property.\r\nDon\u2019t miss this opportunity to own a solid commercial asset in a thriving Cleveland-area neighborhood. MLSNow 5137690

Directions to property: Off Cove Ave

MLS Listing ID: 
MLSNow 5137690
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$5,999,900
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Lakewood
Address: 
12050 Lake Avenue, Lakewood, OH 44107
County: 
Cuyahoga
Latitude: 
41.4906210
Longitude: 
-81.7742290
Directions: 
Off Cove Ave
Public Remarks: 
Exceptional Investment Opportunity \u2013 Michael Tower | 12050 Lake Avenue, Lakewood\r\n 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\u2019s 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.\r\nThe 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\u0027re expanding an existing portfolio or entering the commercial space, Michael Tower combines location, scale, and potential\u2014all in one turnkey property.\r\nDon\u2019t miss this opportunity to own a solid commercial asset in a thriving Cleveland-area neighborhood.
Community Information
School District: 
Lakewood CSD (Cuyahoga)- 1817
Subdivision: 
Rockport Sec 21
Building Details
Details about the building on a property.
Year Built: 
1963
Living Area: 
0.0
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Hot Water,Steam
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.72
Lot Size (Area): 
0.72
Public Record
Parcel Number: 
312-10-021
Annual Tax: 
$102,024.62
Contract Details
Details about the listing contract.
Possession: 
Negotiable
Disclosures: 
Principal is Real Estate Licensed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Shoshana Socher
Listing Co-Agent Name: 
Aviva Lipins
Listing Office Name: 
Keller Williams Greater Metropolitan
Listing Co-Office Name: 
Keller Williams Greater Metropolitan

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