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$ 279,000
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2851 Oakwood AVE Lorain, OH 44055
6,098 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Sheffield Land Co
MLS Listing ID 5167228
HOA Y/N No
Year Built 1900
Annual Tax Amount $2,488
Tax Year 2024
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Apartment
Property Description
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.
Location
State OH
County Lorain
Interior
Heating Baseboard
Fireplace No
Schools
School District Lorain Csd - 4709
Others
Tax ID 03-00-094-104-001
Special Listing Condition Standard
Listed by Michael Orlando • Key Realty • mjorlando1994@gmail.com, 216-956-1884