4004 W Erie Ave - Apartments FOR SALE


Lorain, OH 44053
$699,000 USD
216-956-1884
4004 W Erie Ave, Lorain, OH for Sale
$699,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

4004 W Erie Ave
Lorain, OH 44053


HIGHLIGHTS

  • Incredible unit mix including 3 bedroom, 2 bathroom units!
  • Most units already cosmetically renovated!
  • Most tenants month to month allowing a buyer to immediately implement their business plan!

OVERVIEW

Incredible opportunity to purchase 12 units right on Lake Erie in Lorain, OH! Property is mostly occupied already bringing in over $7,000 per month, with value add upside! Large units including (6) 2 bedroom units, and (6) 3 bedrooms, 2 bathroom units mean rent potential is huge. Most units have already been cosmetically renovated and most tenants are month to month meaning a buyer can immediately start to implement their business plan. Owner pays gas for the boiler, water/sewer, small amount of common area electric and trash. Tenants pay their own in unit gas and electric. **Offer is subject to lender approval**. Owner is also selling 13 condo units next door to this property that need to be finished being built out. If interested, please inquire.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$79 USD /SF

# OF UNITS

12

PRICE/UNIT

$58,250

CAP RATE

Request Cap Rate

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shore Harbour

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

-

APN/PARCEL ID

02-02-021-101-046

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.