Commercial Real Estate for Sale at 1900 E 28th Street in Lorain, OH for $523,000

Listing data updated November 21, 2024 - 12:18am
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1900 E 28th Street | Lorain

$523,000 | 0.0 Sq. Ft.

Incredible investment opportunity! This fully renovated 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! MLSNow 5086296

Directions to property: South of HWY 57

MLS Listing ID: 
MLSNow 5086296
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: 
$523,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Lorain
Address: 
1900 E 28th Street, Lorain, OH 44055
County: 
Lorain
Latitude: 
41.4452930
Longitude: 
-82.1318240
Directions: 
South of HWY 57
Public Remarks: 
Incredible investment opportunity! This fully renovated 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!
Community Information
School District: 
Lorain CSD - 4709
Subdivision: 
Sheffield Land Cos 01
Building Details
Details about the building on a property.
Year Built: 
1920
Living Area: 
0.0
Basement: 
Full
Construction
Roof: 
Flat
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: 
Hot Water,Steam
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.14
Lot Size (Area): 
0.14
Lot Features
Parking Type: 
On Site,Paved
Public Record
Parcel Number: 
03-00-095-108-001
Annual Tax: 
$7,837.00
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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