(151981) Clean and Well Maintained 46 Unit Complex, Lorain, OH Sold

  • $899,900

Collect $23,865/month OR MORE on this 46 units Apartment Complex In Lorain, OH

• Are you looking for real passive income?
• Are you looking to multiply your returns in real estate?
• Tired of competing over single family units?

Now you can own 46 income-producing units through one property purchase!


This multifamily property offers multiple money-generating strategies:

 Great Investment Opportunity! Great Location: Lorain is one of the top hottest Real Estate markets in OH, has 65.000 population, largest in Lorain County by population.
 Value play: Add coin laundry machines for additional income (dedicated 2 rooms available with washer and dryer hookup), Rent Increase!
 Cap Rate on Actuals: 14%
 90% Occupancy
 NOI $143,694
 1960 built
 Roof on both buildings are redone few years ago.
 24 new A/C units installed, replaced 46 thermostats, Security cameras installed.
 Some are new dual pane windows, water heaters and Boilers are new
 29 min drive to Cleveland Hopkins International Airport
 35 min drive to Cleveland State University
 20 min drive to Ohio Business College
 Major Employers: Mercy Health, Republic Steel, Camaco Inc, Lorain Tubular, Emerson Netwok Power, Walmart.
 No Seller Financing
 Perfect for 1031 Exchange
 Purchase Price $899,900

5001 Oberlin Ave
Lorain, OH 44053
For Sale
Property Type:

Property Location