4638 Oberlin Avenue

Estimated Monthly Payment: $5,553/mo 4638 Oberlin Avenue, Lorain, OH 44053 MLS# 4103618 Commercial Sale Listing Status: Active
129
14
1
0

REMARKS:

Great opportunity to own this 24 unit apartment building which consists of 2 brick buildings with 12 units in each building. The unit mix consists of 20- 2 Bedroom units and 4- 1 Bedroom units. 7 of the units have been completely renovated from A-Z (new granite counter-tops, brand new white cabinets, freshly painted throughout, new flooring throughout, etc), the common areas have been remodeled, new windows have been installed, and some deferred maintenance has been completed for occupied units. This property is currently 87% occupied with gross rents totaling $10,755 per month. Do a light rehab on the 3 vacant units and rent them for an extra potential $1,740 per month (apprx $580/mo per unit) which would bring your gross rental income to $149,940/yr. Laundry income also has the opportunity to bring in an extra $2,400+/year ($100 per unit), which yields a gross potential income of $152,340 per year! Owner pays for trash, electric, common area gas, and water/sewer. Serious buyers only. Rent-roll available upon request.

OVERVIEW:

Commercial Sale
Apartment
Active
Lorain
Black River 02
1971
0.82
Flat
Covered, Private
Gas, Steam
None
Public, Public
Public Sewer, Public Sewer

FINANCIAL:

$899,000
$17,443

NEIGHBORHOOD & SCHOOL INFORMATION:

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