3960 W Erie Ave - Apartments FOR SALE


Lorain, OH 44053
$910,000 USD
216-956-1884
3960 W Erie Ave, Lorain, OH for Sale
$910,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

3960 W Erie Ave
Lorain, OH 44053


HIGHLIGHTS

  • 13 Lake Erie condo units in Lorain are available for purchase with exterior and interior finishings.
  • Investors can rent or sell them individually.

OVERVIEW

Amazing development opportunity! 13 condo units right on Lake Erie in Lorain are available for a savvy buyer to finish off! Exterior work has been completed including new vinyl siding, new gutters/soffits, new windows, doors, etc. In addition, new HVAC systems with central AC have been installed in all units as well as new wiring. The units will need interior finishings of varying degrees, including drywall, paint, kitchens, bathrooms and other finishings. Once finished, an investor can easily rent these and have a cash flowing portfolio of brand new assets, or sell them individually as flips! All condos are two story, 2 bedroom, 1.5 bathroom floorpans offering plenty of space for potential tenants / families! **offer subject to lender approval**. Owner also has 12 apartments next door he is willing to sell (4004 W Erie Avenue).

FOR SALE DETAILS

PRICE

$910,000 USD

PRICE/SF

$45 USD /SF

# OF UNITS

13

PRICE/UNIT

$70,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

R-2

APN/PARCEL ID

02-02-020-701-001,02-02-020-701-002,02-02-020-701-003,02-02-020-701-004,02-02-020-701-005,02-02-020-701-006,02-02-020-701-007,02-02-020-701-008,02-02-020-701-009,02-02-020-701-010,02-02-020-701-011,02-02-020-701-012,02-02-020-701-013,02-02-020-701-014

ASK ABOUT THIS PROPERTY

Michael OrlandoKey RealtyMore Info
216-956-1884

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Michael OrlandoKey RealtyMore Info
216-956-1884

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.