122 Elbe Street
Elyria, OH 44035
$1,700,000
50 Total Photos [Click to View All]
Listing Details
- $1,700,000
- MLS# 5201644
- Type Commercial - Business
- Status Active
Home Value Estimate
Description
A rare opportunity to acquire a 19-unit, 12-property scattered-site portfolio across Elyria and Lorain at $1,700,000, just 25 miles west of Cleveland. Fully occupied, the portfolio delivers $164,867 in NOI at a 9.7% cap rate, $60,340 in annual net cash flow, and a 13.69% cash-on-cash return on a $442,000 total investment. The seller is actively leasing the 2 remaining vacant units at rents consistent with the in-place portfolio, making this a stabilization-in-progress buy rather than a speculative one. The income is built on a foundation of heavy Section 8 participation across a market with deep voucher infrastructure. The Lorain Metropolitan...read more
Features
- None
- Forced Air, Gas
- 2.0 Stories
- $15,358 / year Taxes
- Public
- Built in 1900
Gallery
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Listed By
Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687
Shown By
Agency Title: Old Colony, REALTORS®
Agency Contact: Contact
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The photos may be altered, edited, enhanced or virtually staged.
Privacy Policy / DMCA Notice / ADA Accessibility
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