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Property Description

Incredible opportunity to purchase 12 suites located right on Lake Erie! This property is perfect for the savvy investor looking to walk into a stabilized asset, but still with significant upside! Currently, 9 of the 12 units are occupied (one being occupied by a maintenance man that receives a discount on rent). This property is extremely attractive as it boasts (6) two bed, one bath units and (6) three bed, two bath units, meaning rent potential here is huge. The majority of units have already been updated with vinyl plank flooring, paint, and kitchen and bath updates. Two of the vacant units can quickly and easily be turned and leased for premium rents, while one of the vacant units needs a full rehab. Even as it sits, the rent roll currently grosses about $7,400 per month, but can easily be taken to $11,500+ per month with lease up and management / operational efficiencies! Reach out to listing agent for OM. **Please note offers must be approved by seller’s lender, therefore should make offer contingent on lender approval**. Condos for sale (13 Units, 3960 W Erie Ave) also for sale by same owner.

Features
: Gas, Radiant
Address Map
OH
Lorain
Lorain
Erie
4004
Avenue
44053
W83° 46' 50.4''
N41° 27' 3.1''
W
Property Details
Active
Key Realty
Michael Orlando
2021000887
9548
02-02-021-101-046
$10,244
06/02/2025 19:53:30
No
No
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4004 W Erie Avenue, Lorain, Ohio

Commercial Sale For Sale

0.59 Sqft
$699,000
Listing ID #5098818
Basic Details
Property Type : Commercial Sale
Property Sub Type : Apartment
Listing Type : For Sale
Listing ID : 5098818
Price : $699,000
Year Built : 1968
Lot Area : 0.59 Sqft
Agent info
Berkshire Hathaway HomeServices Professional Realty
7466 Auburn Road Suite A, Concord, Ohio 44077
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