855.375.4001
Listing Courtesy of: tal@premierclevelandinvesting.com 216-870-8687 - Tal Tamir - Russell Real Estate Services 440-526-9400

7444 Lake Avenue Elyria, OH 44035

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Apartment Residence
Beds
Baths
... Bed/Bath
6,750 Sq. Ft.

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Last updated on 2/1/2025 4:59 AM
Welcome to an exceptional investment opportunity: a rare 8-unit cash-flowing property located in the highly desirable area of Elyria, OH! This property has undergone a complete exterior upgrade, featuring new paint, siding, multiple new windows and doors, fencing, and a resealed and patched parking ...area. The majority of units have been cosmetically refreshed with new flooring, paint, and bathroom upgrades, enhancing tenant satisfaction and retention. Currently fully occupied, this property generates nearly $100,000 in annual gross income, with recent electrical and plumbing improvements already in place. There’s even the potential to add a 1,000 sq. ft. unit, further boosting income potential. While the owner currently covers utilities due to two electric and two gas meters, this setup allows for premium rent pricing to offset costs. Priced to deliver an impressive cap rate near 10% and solid double-digit cash-on-cash returns, this investment is a rare find in today’s market. Continue reading
MLS#
5082583
Property Type
Apartment
Year Built
1920
Square Feet
6,750 sq. ft
Lot Size
0.45

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Listing Courtesy of: tal@premierclevelandinvesting.com 216-870-8687 - Tal Tamir - Russell Real Estate Services 440-526-9400
Andrea D. Conner, License BRKP.2017002935, Xome Inc., License REC.2015001703, [email protected], 844-400-XOME (9663), 11427 Read Hartman Hwy, Suite 236, Cincinnati, OH 45241


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Yes MLS. Real estate listings held by brokerage firms other than the owner of this site are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Yes MLS. All rights reserved.
This content last refreshed on 2/1/2025 4:59 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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