Rare Lakefront 25-Unit - Immediate opportunity to add $90k/year to income! This is an exceptional opportunity to acquire a 25-unit multifamily asset in Lakewood, Ohio—one of Northeast Ohio’s most sought-after rental markets. Situated just steps from Lake Erie, this property features 6units with direct lake views, a rare and highly desirable amenity that significantly enhances tenant appeal and rental value. Currently generating over $26,000 per month in rent with a 16% vacancy rate, the property offers substantial upside. The vacancies include three spacious 3-bedroom, 2-bath units, each requiring full renovation. Once updated and leased, these units are poised to significantly boost rental income. The building includes 20 parking spaces, including 8 garage spots, providing ample tenant parking—an uncommon convenience in Lakewood. Recent capital improvements include brand-new electrical systems, plumbing stacks, drains, and windows. Over 60% of the units have been updated, minimizing future capital needs. Financial Highlights: Current Monthly Rent: $26,000+ Additional Annual Income (parking, etc.): $15,000 (with potential to nearly double) Actual Annual Expenses: $133,000 (excluding capital improvements) Current NOI: $195,199 Proforma NOI: $363,632 Proforma Cap Rate: Over 9% COC: 19% IRR: 38% Unit Mix: 3 units – 3 Bed / 2 Bath 10 units – 2 Bed 11 units – 1 Bed 1 unit – Studio This building at 12065 Edgewater Drive combines cash flow, location, and upside—a rare mix for Lakewood multifamily. Investors will benefit from strong in-place income, future appreciation, and the ability to boost NOI through vacancy renovation and additional income optimization.