Map of Property

Michael Towers

For Sale

12050 Lake Ave, Lakewood, OH 44107

This Lakewood property for sale is located at 12050 Lake Ave. Contact the listing broker for details on the current sale price for Michael Towers. Michael Towers is situated on a lot that is 0.72 acre in size.

Contacts

David Leb

Cushman & Wakefield | CRESCO Real Estate

Max Ferguson

Cushman & Wakefield | CRESCO Real Estate

Property Details

  • Property Type Multi-Family
  • Property Size 38,560 SF
  • Units 48
  • Lot Size 0.72 Acre
  • Parking Spaces Avail. 61
  • Parking Ratio 1.58 / 1,000 SF
  • Year Built 1963
  • Date Updated Sep 21, 2026

Cushman & Wakefield | CRESCO Real Estate is pleased to present this Offering Memorandum for Michael Towers, a 48-unit multifamily property located at 12050 Lake Avenue in Lakewood, Ohio. Situated in the highly desirable Gold Coast area—one of the most sought-after residential locations in the Cleveland market—the property benefits from premier physical advantages, including unobstructed Lake and City views. This prestigious positioning not only anchors the asset but also drives year-round rental demand from tenants seeking premium waterfront living with immediate access to local amenities. The unit mix includes 1-bedroom, 2-bedroom, and 3-bedroom layouts averaging 799 square feet, complemented by on-site parking, storage, and pet-friendly amenities. The property presents a compelling value-add opportunity to increase revenue by capturing a 13.6% loss-to-lease, bringing the average in-place rent up to the market average of $1,208 per unit. Supported by solid historical performance, the asset currently generates a trailing 12-month NOI of $325,608.

  

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Getting around

  • 63/100

    Walk Score ®

  • 40/100

    Transit Score ®

  • 60/100

    Bike Score ®

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Location

  • City Lakewood, OH
  • Neighborhood Lakewood
  • Zip Code 44107
  • Market Cleveland Akron

Points of Interest

  • West Boulevard–Cudell

    1.33 miles

  • West Park

    2.52 miles

  • Big Creek & Memphis Railway

    3.57 miles

  • Settlers Landing

    3.84 miles

  • Cleveland Amtrak

    4.17 miles

  • East 9th–North Coast

    4.30 miles

  • South Harbor

    4.64 miles

  • East 55th

    6.37 miles

  • Airport

    6.42 miles

  • East 79th

    7.33 miles

  • Shell

    0.35 miles

  • Sunoco

    0.46 miles

  • GetGo

    0.92 miles

  • Lakewood One Stop

    0.98 miles

  • Gulf

    1.36 miles

  • Valero

    1.37 miles

  • Speedway

    1.43 miles

  • Tesla Supercharger

    3.88 miles

  • Cudell Station Parking

    1.27 miles

  • Lakewood Hospital Emergency Parking

    1.27 miles

  • Triskett RTA Parking

    1.84 miles

  • West Park RTA Station Parking

    2.53 miles

  • Beachcliff Parking Garage

    3.32 miles

  • Walgreens Parking

    3.50 miles

  • Kamms Corner Parking

    3.55 miles

  • Public Parking

    3.55 miles

  • Bar Parking

    3.57 miles

  • St. Ignatius Parking

    3.61 miles

  • Days Inn

    0.11 miles

  • Travelodge Cleveland Lakewood

    0.18 miles

  • Stone Gables Inn

    3.12 miles

  • J. Palen House

    3.52 miles

  • Four Points by Sheraton

    3.69 miles

  • Aloft Cleveland Downtown

    3.74 miles

  • La Quinta Inn & Suites

    3.84 miles

  • Cleveland Airport Marriott

    3.88 miles

  • The Ritz-Carlton

    4.15 miles

  • Hilton Cleveland Downtown

    4.15 miles

  • Lucky's Market

    0.39 miles

  • Sapell's

    0.41 miles

  • Gordon Food Service

    0.52 miles

  • ALDI

    0.89 miles

  • Giant Eagle

    0.92 miles

  • Marc's

    1.46 miles

  • La Plaza Supermarket

    1.54 miles

  • Target

    1.58 miles

  • Save-A-Lot

    1.80 miles

  • Shoppers World

    1.81 miles

Contact Michael Towers
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