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.

Based on information submitted to MLS Now as of December 6, 2024 6:28 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Name

Your Email Address

Phone

Message Send me the deed for 7444 Lake Avenue Elyria OH 44035 (ID#:5082583)

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Name

Your Email Address

Phone

Message Send me the survey or tax map for 7444 Lake Avenue Elyria OH 44035 (ID#:5082583)

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Name

Your Email Address

Phone

Message I would like more information for 7444 Lake Avenue Elyria OH 44035 (ID#:5082583)

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Listing Tools

Property Details of 7444 Lake Avenue

Property Details

Listing

Exterior Features

Exterior Features

Utilities and Appliances

Utilities and Appliances

Community

Schools

Other Details

Finance

Water

Map Location

Ken Mills

Listing Tools

Hi there! How can we help you?

Send to a friend

Property Details of 7444 Lake Avenue

Property Details

Listing

Exterior Features

Exterior Features

Utilities and Appliances

Utilities and Appliances

Community

Schools

Other Details

Finance

Water

Map Location

Hi there! How can we help you?

Hi there! How can we help you?

Hi there! How can we help you?