122 Elbe St, Elyria, OH
$ 1,105,000
Property Attributes
  • MLS#4459130
  • TypePending
  • CountyLORAIN
  • CityElyria
  • Zip44035
  • Style
  • Price$ 1,105,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Data Source:
Property Description

Incredible opportunity to acquire a 17-unit, cash flowing portfolio in the west Cleveland submarket of Elyria/Lorain! This portfolio consists of 17 units spanning across 11 properties. There are (7) single-family homes, (3) duplexes and (1) four-unit and the portfolio is currently 100% occupied. There is one section 8 tenant with the rest being standard market-rate tenants. The current monthly rent roll is $10,725 with a proforma of over $16,000/month. 12 to 13 of the units have been updated as seen in the photos with 9 of the tenants currently on month-to-month leases and the other 8 quickly approaching lease expiration. This allows the new owner to take advantage of LMHA (Lorain County Metropolitan Housing Authority) rising rents and over a short amount of time, significantly increase the rent roll upon lease trade outs and re-leasing to voucher holding tenants. Please see supplements for current rent roll and full financial analysis.

Price History
5/16/2023 Listed $1,105,000

General Features

Additional Parcels Description 06-24-087-101-018
Additional Parcels Y/N No
Association Y/N No
Buyer Agent Compensation 2
Carport Y/N No
City Elyria
County Lorain
Directions Portfolio of 17 units consisting of (7) single-family homes, (3) duplexes and (1) four-unit all in Elyria/Lorain.
Garage Y/N No
Home Warranty Y/N No
Land Lease Y/N No
Lease Considered Y/N No
Lease Renewal Y/N No
Mobilehomeremainsyn No
New Construction No
Possession DeliveryOfDeed
Private Pool No
Property Attached Y/N No
Property Sub Type Additional Other
Property SubType Other
Property Type CommercialSale
Rent Control Y/N No
Senior Community Y/N No
Standard Status Pending
Status Pending
Street Name Elbe
Terms Cash, Conventional, Trade
Township Elyria City Twp
View Y/N No
Virtual Tour
Waterfront Y/N No
Year Built 1900
Year Built Details Actual YBT

Interior Features

Air Conditioning Y/N No
Basement (Y/N) No
Electric On Property Y/N No
Fireplace Y/N No
Heating Y/N No
Street Suffix Street

Exterior Features

Attachedgarageyn No
Days on Market 9
Living Area 0.0
Building Area Total 0.0
Crops Included Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No
Lot Size Units Acres
Open Parking Y/N No
Spa No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 44035

AVG $220K
AVG 151
Year Built
AVG 1968
AVG 29
Data Provided by Walkscore ® not using MLS data

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