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!
Active
$369,900
18518 Newell Rd, Shaker Heights, OH 44122
7beds
3,267sqft
Duplex, Multi Family
Built in 1927
-- sqft lot
$-- Zestimate®
$113/sqft
$-- HOA
What's special
Ample parkingHighly desirable three-car garage
- 8 days
- 555
- 46
Zillow last checked:
Listing updated:
Listed by:
Alex Severyn 716-359-1155 alex.severyn@elitesothebysrealty.com,
Elite Sotheby's International Realty
Source: MLS Now,MLS#: 5245993
Originating MLS: Akron Cleveland Association of REALTORS
Originating MLS: Akron Cleveland Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Forced Air, Gas
Cooling
- None
Features
- Basement: Common Basement,Full
Interior area
- Total structure area: 3,267
- Total interior livable area: 3,267 sqft
- Finished area above ground: 3,267
Property
Parking
- Total spaces: 3
- Parking features: Detached, Garage
- Garage spaces: 3
Features
- Levels: Three Or More
- On waterfront: Yes
Lot
- Size: 6,446 Square Feet
Details
- Parcel number: 73620020
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex, Multi Family
Materials
- Brick, Stone, Stucco
- Roof: Asphalt
Condition
- Year built: 1927
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Shaker Heights
Financial & listing details
- Price per square foot: $113/sqft
- Tax assessed value: $278,900
- Annual tax amount: $9,060
- Date on market: 9/17/2026
- Cumulative days on market: 8 days
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/17/2026 | Listed for sale | $369,900+19.3%$113/sqft |
Source:  MLS Now #5245993 Report a problem | ||
| 12/20/2024 | Sold | $310,000-4.6%$95/sqft |
Source: MLS Now #5076409 Report a problem | ||
| 11/25/2024 | Pending sale | $325,000$99/sqft |
Source: MLS Now #5076409 Report a problem | ||
| 10/9/2024 | Listed for sale | $325,000+58.5%$99/sqft |
Source: MLS Now #5076409 Report a problem | ||
| 6/7/2024 | Sold | $205,000-12.4%$63/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 6/1/2024 | Pending sale | $234,000$72/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 4/23/2024 | Listed for sale | $234,000$72/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 4/14/2024 | Contingent | $234,000$72/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 3/8/2024 | Price change | $234,000-2.1%$72/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 10/9/2023 | Listed for sale | $239,000$73/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 9/20/2023 | Contingent | $239,000$73/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 8/25/2023 | Listed for sale | $239,000$73/sqft |
Source: MLS Now #4485267 Report a problem | ||
| 6/7/2023 | Contingent | $239,000$73/sqft |
Source: MLS Now #4438854 Report a problem | ||
| 2/21/2023 | Listed for sale | $239,000+8.7%$73/sqft |
Source: MLS Now #4438854 Report a problem | ||
| 12/13/2021 | Listing removed | -- |
Source: MLS Now #4251226 Report a problem | ||
| 2/12/2021 | Pending sale | $219,900$67/sqft |
Source: Kathy Reid Realty #4251226 Report a problem | ||
| 2/9/2021 | Contingent | $219,900$67/sqft |
Source: MLS Now #4251226 Report a problem | ||
| 1/30/2021 | Listed for sale | $219,900+141.9%$67/sqft |
Source: MLS Now #4251226 Report a problem | ||
| 3/16/2020 | Sold | $90,898-15%$28/sqft |
Source: Public Record Report a problem | ||
| 12/27/2019 | Pending sale | $106,900$33/sqft |
Source: Owners.com #4147344 Report a problem | ||
| 12/6/2019 | Price change | $106,900-7%$33/sqft |
Source: Owners.com #4147344 Report a problem | ||
| 11/20/2019 | Price change | $115,000-5.7%$35/sqft |
Source: REALHome Services and Solutions #4147344 Report a problem | ||
| 11/1/2019 | Listed for sale | $121,900+40.7%$37/sqft |
Source: Owners.com #4147344 Report a problem | ||
| 10/29/2019 | Sold | $86,667-57.7%$27/sqft |
Source: Public Record Report a problem | ||
| 9/19/2013 | Listing removed | $205,000$63/sqft |
Source: Owner Report a problem | ||
| 6/21/2013 | Listed for sale | $205,000+11.4%$63/sqft |
Source: Owner Report a problem | ||
| 11/10/2005 | Sold | $184,000$56/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,955 +13.5% | $97,620 |
| 2024 | $8,773 +2.7% | $97,620 +30.4% |
| 2023 | $8,541 +11.9% | $74,870 +8.2% |
| 2022 | $7,633 +0.3% | $69,200 |
| 2021 | $7,610 +3.2% | $69,200 +10% |
| 2020 | $7,374 -44.6% | $62,900 |
| 2019 | $13,309 +110.9% | $62,900 |
| 2018 | $6,310 -18.4% | $62,900 +6.1% |
| 2017 | $7,733 -14.4% | $59,290 |
| 2016 | $9,037 -4.3% | $59,290 |
| 2015 | $9,447 +8.4% | $59,290 +10% |
| 2014 | $8,718 +10.6% | $53,900 |
| 2013 | $7,880 +31.2% | $53,900 |
| 2012 | $6,007 -2.9% | $53,900 -7.2% |
| 2011 | $6,185 -1.1% | $58,070 |
| 2010 | $6,255 -1.7% | $58,070 |
| 2009 | $6,365 -12.3% | $58,070 -9.8% |
| 2008 | $7,260 +25.8% | $64,410 |
| 2007 | $5,772 +0.1% | $64,410 |
| 2006 | $5,765 -3.7% | $64,410 -6.3% |
| 2005 | $5,984 +2.3% | $68,710 |
| 2004 | $5,852 +25.2% | $68,710 |
| 2003 | $4,673 +16.8% | $68,710 +14.5% |
| 2002 | $4,000 -63.1% | $59,990 |
| 2001 | $10,834 | $59,990 |
| 2000 | $10,834 | $59,990 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Lomond
Nearby schools
Schools provided by the listing agent
- District: Shaker Heights CSD - 1827
Source: MLS Now. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- $251,6006 bd3 ba3.1k sqft18512 Newell Rd, Shaker Heights, OH 44122Off Market
- $332,2006 bd3 ba3.3k sqft18524 Newell Rd, Shaker Heights, OH 44122Off Market
- $280,7006 bd3 ba4.3k sqft18506 Newell Rd, Shaker Heights, OH 44122Off Market
- $250,8003 bd3 ba1.6k sqft3554 Winchell Rd, Shaker Heights, OH 44122Off Market
Similar homes
- $372,0008 bd2 ba2.9k sqft3454 Ingleside Rd, Shaker Heights, OH 44122For Sale
MLS ID #5236942, Iris Wheeler, Keller Williams Greater Cleveland Northeast. MLS Now - $419,0006 bd3 ba3.2k sqft19619 Winslow Rd, Shaker Heights, OH 44122For Sale
MLS ID #5229525, Sam Zimmer, Keller Williams Greater Metropolitan. MLS Now - $434,9009 bd3 ba4.5k sqft19000 Winslow Rd, Shaker Heights, OH 44122For Sale
MLS ID #5217713, Susan M Loparo, RE/MAX Crossroads Properties. MLS Now - $370,0004 bd4 ba2.1k sqft3295 Glencairn Rd, Shaker Heights, OH 44122For Sale
MLS ID #5235164, Stephanie Wherry-Branch, Keller Williams Greater Metropolitan. MLS Now
