1557 Newman Avenue, Lakewood, OH 44107

Property Description

Welcome to 1557 Newman Ave — a fully renovated duplex offering incredible income potential and flexibility. With the lower unit previously rented at $1,300/month and the upper unit projected to earn $1,800+/month, this property easily fits the criteria for investors seeking strong returns. It’s also perfect for owner-occupants looking to offset a mortgage with rental income, or those wanting to convert it into a spacious single-family home. The property features 5 bedrooms and 3 full baths in total: a 2-bed/1-bath unit on the first floor and a large 3-bed/2-bath unit spanning the second and third floors. The upper unit includes an updated kitchen and a brand-new third-floor bathroom with new stairs. Recent upgrades (2023–2024) include: All new appliances New flooring throughout both units New front porch and upper balcony Fresh exterior paint New gutters and entry doors Majority of windows replaced Located in a desirable, walkable Lakewood neighborhood near parks, dining, and RTA transit, this turnkey property requires minimal maintenance and is poised for immediate cash flow.