Address
122 Elbe St, Elyria, OH
Price
$ 1,105,000
Property Attributes
- MLS#4459130
- TypePending
- CountyLORAIN
- CityElyria
- Zip44035
- Style
- Price$ 1,105,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
Data Source:
MLSNow
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 | https://www.propertypanorama.com/122-Elbe-St-Elyria-OH-44035/unbranded |
| 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 |
Amenities
- 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
Price
Visits
Year Built
Walkscore
© MLS Now, INC - Northern Ohio Regional Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective
