Listed By
Agency Name: Keller Williams Greater Metropolitan
Agency Contact: kquawanbrown@kw.com, 216-272-4616
Shown By
Agent Name: Meyer & Dial
Agent Phone: (614) 340-9660
Agency Title: Cutler Real Estate
TOUR THIS HOME
Choose a date and time to see 428 West Avenue, Elyria, OH 44035.
I will get in touch with you shortly.
Property Description
Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features three occupied units and one vacant unit, offering immediate income with additional upside through lease-up or rent growth. Current rents include Unit 1 at $850/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $880/month through the Lorain Metropolitan Housing Authority ($582 subsidy plus $298 tenant portion) with lease expiring 8/31/2026. Unit 4 is currently vacant, providing an opportunity for an owner-occupant or an investor to increase cash flow. The property features a durable brick exterior and numerous updates, including a new boiler system, helping reduce future capital expenditures. Conveniently located near shopping, dining, schools, and major highways, this property offers stable tenancy and strong rental demand. Whether you're a seasoned investor looking for a performing asset or seeking to expand your multifamily portfolio, 428 West Ave presents a compelling opportunity with immediate income and value-add potential.
Property Features
Property Type: Multi Unit - Multiple
Basement: Unfinished
Basement: Yes
Cooling: None
Days on Market: 41
Garage: 1 car attached
Heating: Hot Water, Steam
Lot Size: 0.19 Acres
Roof Type: Asphalt
Stories: 2.0
Taxes: $3,395 / year
Year Built: 1900
Feature Descriptions
Exterior: Brick
Parcel#: 06-26-045-000-003
Parking: Attached, Driveway, Garage
Sewer: Public Sewer
Water: Public
Local Schools
School District: Elyria City
Estimate Your Payment
Estimated Payment
$ 1,910.59 per month $1,540.20 Principal & Interest $282.92 Property Tax $87.47 Homeowner's InsuranceChange Payment Information
Print This Listingx
Select a format below, new window will open and will prompt you to print.
428 West Avenue | MLS# 5209212
This multi-family property located at 428 West Avenue, Elyria, OH 44035 is currently listed for sale with an asking price of $299,900. West Avenue is located within the Elyria City school district. Search Elyria real estate on www.meyeranddial.com today.