Excellent investment opportunity in Shaker Heights! This well-maintained multifamily property at 18518 Newell Road offers strong existing income, quality tenancy, and recent capital improvements. The property is currently leased and generating more than $4,200 per month in rental income, providing immediate cash flow for the next owner. The units are currently utilized by Beechmont Country Club, offering the benefit of an established, reputable tenant and an attractive rental history. Recent improvements include plumbing upgrades in both bathrooms along with updated kitchens featuring stainless steel appliances. The property also includes a highly desirable three-car garage, providing ample parking and additional functionality for tenants. Located in sought-after Shaker Heights, this is an excellent opportunity for an investor looking to acquire a stabilized multifamily asset with strong existing income, credible tenancy, recent improvements, and continued long-term potential. Turnkey income from day one!
Multi-familyProperty Type
1927Year Built
6,446 sq ftLot Size
$113Price/Sq.Ft.
3 car garageParking
Listed by Alex Severyn• Elite Sotheby's International Realty
Lomond, located between Lee Road and Warrensville Center Road, is a residential and park-adjacent Shaker Heights neighborhood with curving, tree-lined streets and classic mid-century homes. The neighborhood’s character concentrates around the Lee Road corridor near Shaker Square, where sidewalk cafes, indie boutiques, and gallery-style storefronts set a polished, walkable rhythm. Architectural lines lean toward brick colonials and ranches, with generous setbacks and deep front lawns. Green space and trails thread daily routines through nearby parks and the Doan Brook corridor. Cultural gravity comes from Cain Park’s outdoor amphitheater, the Cleveland Orchestra at Severance Music Center, and the Cleveland Museum of Art. Transit stops along the RTA Green Line add a city-connected cadence without changing the quiet street feel.
Provided by Walk Score and Local Logic
Offer insights
18518 Newell Rd · $369,900
$372K and above
75% chance or better to win
Why $372K+ is a strong offer
DAYS ON MARKET
26 days
The average home goes pending in 38 days.
SALE-TO-LIST
96.2%
Most homes are selling 4% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Interior features
Common full basement
Bathrooms
Three full bathrooms
Heating & cooling
Gas forced-air heating
Exterior features
Waterfront property
Lot approximately 0.148 acres
North-facing
Home design
3-story home
Parking
Detached garage
Three garage spaces
Construction
Brick, stone, and stucco exterior
Asphalt roof
Built per public records
Utilities
Public water
Public sewer
Financial info
Annual taxes listed (not included per instructions)
Electricity and solar
View estimated energy costs and solar savings for this home
Here's the home to buy you've been looking for, a very attractive brick & stucco Shaker Hts. duplex located in a popular & sought after community! Live in 1 unit and let the rental provide you with a lucrative monthly income. Property also can be a lucrative addition to an investor's rental portfolio for solid, long-term rental income. With maximum comfort & charm, both units offer updated kitchens with new cabinetry, butcher block counter tops, & lament flooring. Both units have very spacious living & dining rooms with ornate fireplaces. You'll enjoy the pleasantness of the tall windows thru out that stream in the days sunlight. The 1st floor unit has 2 nice sized bedrooms and updated full bathroom. The 2nd fl unit offers 2 bedrooms & full bathroom, living & dining rooms along with a finished 3rd floor that offers an additional 3 bedrooms and a 2nd full bathroom! All this with updated ceramic tiled bathrooms and living spaces thru out with beautiful, authentic hardwood floors. The full basement is ample for storage and laundry. A three car garage for parking with front & back yards to relax and enjoy on your own or with family/friends. Conveniently located close to public transportation, interstate highways, area cultural destinations & just a short walk to Shaker's Van Aken District. Home to transfer with Compliance from Shaker Hts. Motivated Seller, send your offers! Easy to see, schedule your showing!
MLSNOW #4485267
Jun 7, 2024
Sold
$205,000
$63/sq ft
Jun 1, 2024
Pending
—
Apr 23, 2024
Relisted
—
Apr 14, 2024
Contingent
—
Mar 8, 2024
Price Changed
$234,000
$72/sq ft
Oct 9, 2023
Relisted
—
Sep 20, 2023
Contingent
—
Aug 25, 2023
Listed
$239,000
$73/sq ft
+30
MLSNOW #4438854
Aug 25, 2023
Listing Removed
—
Jun 6, 2023
Contingent
—
Feb 17, 2023
Listing Removed
—
Feb 17, 2023
Listed
$239,000
$73/sq ft
MLSNOW #4251226
Dec 13, 2021
Listing Removed
—
Feb 9, 2021
Contingent
—
Jan 30, 2021
Listed
$219,900
$67/sq ft
MLSNOW #4147344
Mar 5, 2020
Sold
$90,898
$28/sq ft
Dec 29, 2019
Pending
—
Dec 6, 2019
Price Changed
$106,900
$33/sq ft
Nov 19, 2019
Price Changed
$115,000
$35/sq ft
Nov 1, 2019
Listed
$121,900
$37/sq ft
MLSNOW #4147342
Nov 1, 2019
Listing Removed
—
Nov 1, 2019
Listed
$121,900
$37/sq ft
MLSNOW #2232186
Nov 10, 2005
Sold
$184,000
$56/sq ft
Aug 8, 2005
Listed
$184,000
$56/sq ft
MLSNOW #2191026
Jun 30, 2005
Listing Removed
—
Feb 2, 2005
Listed
$199,900
$61/sq ft
MLSNOW #2152165
Dec 11, 2004
Listing Removed
—
Jun 11, 2004
Listed
$189,000
$58/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$10,081 (+4.6%)
$15,580 + $82,040
$97,620
2024
$9,636 (+6.3%)
$15,580 + $82,040
$97,620
2023
$9,061 (+6.7%)
$11,760 + $63,110
$74,870
2022
$8,495 (+1.9%)
$11,760 + $57,440
$69,200
2021
$8,336 (+5.8%)
$11,760 + $57,440
$69,200
2020
$7,876 (+17.9%)
$10,680 + $52,220
$62,900
2019
$6,683 (+5.9%)
$10,680 + $52,220
$62,900
2018
$6,310 (+1.9%)
$10,680 + $52,220
$62,900
2017
$6,193 (+4.1%)
$11,480 + $47,810
$59,290
2016
$5,948 (−13.1%)
$11,480 + $47,810
$59,290
2015
$6,847 (+5.9%)
$11,480 + $47,810
$59,290
2014
$6,465
$10,430 + $43,470
$53,900
Public record
Public record
Zoning
Beds
4
Baths
3
Stories
2.5
Lot width
45 ft.
Lot depth
143 ft.
Lot size
6,434 Sq. Ft.
Year renovated
1972
Finished Sq. Ft.
3,267
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,267
Year built
1927
Style
Multi-Family (2-4 Unit)
County
Cuyahoga County
APN
73620020
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 12, 2026.
TF
Two-Family Residential District
The purpose of this district is to provide a residential environment for two-family dwellings.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 95° expected this year, 17 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 5 days in 30 years
Provided by First Street
Historical weather
Shaker Heights, OH • 44122
Average low and high temperatures (°F)
28
16
35
21
54
34
63
43
67
50
80
62
85
67
79
61
77
56
65
47
50
37
37
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
80/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.4 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 18518 Newell Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $292,000 and $399,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $292K to $399K.