Is this your property? Sell it faster with premium placement and targeted ads.
APARTMENT - Lorain, OH
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...
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.
Copyright © 2025 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
From elevation to risk assessment
Search for detailed parcel information including; Elevation & Vegetation Maps, Ownership Information, Detailed Parcel Information, Crop History Map, Soil Survey Productivity Data, and more.
Research Parcel InformationIs this your property? Sell it faster with premium placement and targeted ads.