Commercial Real Estate for Sale at 7444 Lake Avenue in Elyria, OH for $499,000

Listing data updated November 19, 2024 - 4:20pm
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7444 Lake Avenue | Elyria

$499,000 | 0.0 Sq. Ft.

Welcome to an exceptional investment opportunity: a rare 8-unit cash-flowing property located in the highly desirable area of Elyria, OH! This property has undergone a complete exterior upgrade, featuring new paint, siding, multiple new windows and doors, fencing, and a resealed and patched parking area. The majority of units have been cosmetically refreshed with new flooring, paint, and bathroom upgrades, enhancing tenant satisfaction and retention. Currently fully occupied, this property generates nearly $100,000 in annual gross income, with recent electrical and plumbing improvements already in place. There MLSNow 5082583

Directions to property: South of I-80

MLS Listing ID: 
MLSNow 5082583
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$499,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Elyria
Address: 
7444 Lake Avenue, Elyria, OH 44035
County: 
Lorain
Latitude: 
41.3899290
Longitude: 
-82.1304340
Directions: 
South of I-80
Public Remarks: 
Welcome to an exceptional investment opportunity: a rare 8-unit cash-flowing property located in the highly desirable area of Elyria, OH! This property has undergone a complete exterior upgrade, featuring new paint, siding, multiple new windows and doors, fencing, and a resealed and patched parking area. The majority of units have been cosmetically refreshed with new flooring, paint, and bathroom upgrades, enhancing tenant satisfaction and retention. Currently fully occupied, this property generates nearly $100,000 in annual gross income, with recent electrical and plumbing improvements already in place. There
Community Information
School District: 
Elyria CSD - 4706
Subdivision: 
West/Black River
Building Details
Details about the building on a property.
Year Built: 
1920
Living Area: 
0.0
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air,Gas
Water Source: 
Public
Sewer: 
Septic Tank
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.45
Lot Size (Area): 
0.45
Lot Features
Parking Type: 
On Site,Paved
Public Record
Parcel Number: 
06-24-036-104-049
Annual Tax: 
$2,909.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Tal Tamir
Listing Office Name: 
Russell Real Estate Services

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