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122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo
122 Elbe Street , Elyria, OH 44035 Photo

50 Total Photos [Click to View All]

122 Elbe Street Elyria, OH 44035
$1,700,000
Active / MLS# 5201644 / Commercial - Business / Elyria
0 Beds

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 Housing Authority manages over 3,100 active Housing Choice Vouchers, paying landlords an average of $1,075 per month, and Lorain County ranks 13th highest in Ohio by Fair Market Rent with the 2-bedroom FMR at $1,208. In-place rents across the portfolio range from $725 to $1,600, all at or below FMR, with predominantly tenant-pays-electric lease structures keeping operating costs lean. The demand fundamentals across both markets are structural. Elyria and Lorain together represent over 118,000 residents with renter-occupied rates of 39.9% and 44.2% respectively, supported by a Lorain County employment base of 150,000 jobs that grew 1.55% year-over-year. Median home values in the $140,000 to $154,000 range continue to push a significant share of the workforce into long-term rental demand. For the investor building a cash-flow-first, Section 8-anchored portfolio in a market that still prices like it is underappreciated, this offering is worth a close look.

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Property Details

Property Type: Commercial - Business
Basement: Full
Basement: Yes
Cooling: None
Heating: Forced Air, Gas
Lot Size: 0.33 Acres
Roof Type: Slate
Stories: 2.0
Taxes: $15,358 / year
Year Built: 1900

Feature Descriptions

Parcel#: 06-24-087-101-019
Parking: No Garage, Unpaved
Sewer: Public Sewer
Units: 4
Water: Public

Schools

School District: Elyria City

Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.

Listed By / Shown By

Listed By

Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687

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