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APARTMENT - Lorain, OH
Occupied and cash flowing 6 unit apartment building! This fully occupied 6 unit property is ready for the buyer looking to take advantage of a cash flowing, stabilized asset. The 6 units are grossing $4,125 currently, well over the 1% rule. The unit mix consists of (1) studio unit, (3) one bedroom units, and (2) two bedroom units. Majority of the units have been moderately updated including vinyl plank flooring, new paint, appliances, etc. Walk into stable cashflow, or raise rents to proforma / section 8 standards and get this property grossing over $4,500 per month! The owner pays water/sewer as well as gas for the hot water tanks and landscaping. Tenants are responsible for their own electricity.
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