USAOHLorain2 Black River4004 W Erie Ave
4004 W Erie Ave, Condo with 0 bedrooms, 0 bathrooms and null parking in Lorain OH | Image 1
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$699,000

4004 W Erie Ave, Lorain, OH

Condo

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Commercial Sale
Size  sqft
Garage No
Maintenance Fees 
Taxes $10,244
Days Active 191
Approx. Age 1968
MLS® Number 5098818

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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.Show Description
MLS® Number5098818
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1968
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatGas, Radiant
A/C
Heating Fuel

Extras

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