REQUEST A TOUR
$ 523,000
Est. payment /mo
Pending
1900 E 28th ST Lorain, OH 44055
6,098 Sqft Lot
UPDATED:
12/27/2024 07:31 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Subdivision Sheffield Land Cos 01
MLS Listing ID 5086296
HOA Y/N No
Year Built 1920
Annual Tax Amount $7,837
Tax Year 2023
Lot Size 6,098 Sqft
Acres 0.14
Property Description
Incredible investment opportunity! This fully renovated, fully occupied 14-unit brick apartment building offers a turnkey cash flow property with potential for even more income. Twelve units have been completely upgraded with new flooring, paint, and kitchen and bathroom improvements, while all common areas feature fresh vinyl flooring and paint. The property includes 12 studios, a one-bedroom unit, and a two-bedroom unit. With boiler heat, the owner covers gas, heating, water, and sewer, while tenants pay their own electric. The current owner, who self-manages, is open to continuing management for a seamless transition. Additional income opportunities include adding coin operated washers and dryers to the already existing laundry room, increasing rents, and renovating the remaining two units. This is a fantastic chance to step into a well-maintained, income-generating property with significant upside!
Location
State OH
County Lorain
Rooms
Basement Full
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Parking Features On Site, Paved
Roof Type Flat
Present Use Residential
Schools
School District Lorain Csd - 4709
Others
Tax ID 03-00-095-108-001
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687