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Exceptional turnkey investment opportunity in Lorain featuring six total rental units, including a 5-unit multifamily building plus a stand-alone efficiency unit, now combined onto one parcel for simplified ownership and management. With four of the six units rent ready and two currently occupied at $725 and $925 per month, this property offers immediate income with strong lease-up potential. The property has seen over $70,000 in recent renovations and improvements, including updates to unit interiors and major building systems. All units are separately metered for gas and electric, with tenants paying their own utilities, helping keep owner expenses low and maximizing cash flow. The unit mix includes both one and two bedroom layouts, with select one bedroom units offering additional bonus space that enhances rental appeal and flexibility. Additional features include a basement with furnaces, water heaters, and sump pumps, along with an unused garage space that offers future value-add potential for storage or additional income. This is a rare opportunity to acquire a ready-to-go, income-producing multifamily asset with strong cash flow and long-term upside.
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
Agency Name: Progressive Urban Real Estate Co
Agency Contact: omoreau@progressiveurban.com, 216-536-8535