1800-1808 E 42ND ST
20 Unit Apartment Building Offered at $1,500,000 at a 7.48% Cap Rate in Lorain, OH 44055
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $1,500,000
- Property Type
-
Multifamily
- Square Feet
- 1,800 SF
Listing Contacts
Joey Miller
Verified Profile
Dante DeFrank
Verified Profile
Matthew Wallace
Verified Profile
- Property Info
Property Overview
Broker of Record
Matt Wallace
License No. REC.2022007141(OH)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
950 Main Ave.,
Suite 510, Cleveland, OH 44113
Matt Wallace
License No. REC.2022007141(OH)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
950 Main Ave.,
Suite 510, Cleveland, OH 44113
Property Details
- Year Built
- 1978
- Stories
- 2
- Units
- 20
Highlights
- The property comes with an assumable mortgage of approximately $1 million at a 5.02% interest rate, providing favorable financing terms.
- All units have been recently renovated, featuring modern finishes and updates that increase tenant appeal and justify higher rents.
- All units are townhome-style, offering 2 bedrooms and 1.5 baths, which is attractive to families and long-term tenants.
- The three buildings are individually parceled, providing flexibility in future management or sales.
- Fully Occupied: The property is fully occupied, providing immediate and consistent rental income.
- Stabilized Rents: Current rents are stabilized, ensuring a steady revenue stream with the potential for future rent increases
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