OH
Lorain
Lorain
44053
3960 W Erie Avenue
3960 W Erie Avenue, Lorain, OH 44053
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Listing Type
Commercial/Industrial
Listing Status
active
18
$910,000

Home Details for 3960 W Erie Avenue

Price
$910,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1967
Lot size acres
0.0113
County
Lorain
Garage
Days on site
292
MLS Listing#
5100651
Property Description

Incredible development opportunity for the savvy investor! This sale is comprised of (13) condos (13 out of 14 at the complex). Proximity to the Lake is second to none as these units essentially sit on the shore! All 13 condos are primed and ready for an investor to add their finishing touches and create significant equity as a long term hold, or flip for a profit. Each unit is a townhome style, 2 bedroom, 1.5 bath unit. All condos have had their exteriors renovated including vinyl siding, new Pella windows, gutters, soffits, paint and wiring. In addition, all units have updated HVAC systems including central air! The interiors of the condos need to be finished, but this allows a buyer to choose their finish level for each individual unit. Most units will need drywall, plumbing, paint, kitchens and bathrooms, but the canvas is ready! As a long term hold, these units can easily gross over $14,000 per month once fully rented! At a 7% cap rate upon stabilization, a buyer can expect an as stabilized value of over $1.4M! Apartments next door also for sale by same owner (12 units).

Property Features
  • Cooling Information
    • Central Air
  • Heating Information
    • Forced Air
  • Water Features
    • Public
Listing Courtesy: Key Realty - 440-895-7290
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information provided courtesy of the Northern Ohio Regional Multiple Listing Service.
Last Updated: 2025-04-01 09:27:12
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EXIT RIVERBEND REALTY
220 Main St, Belpre, OH 45714
Jim Richards
CA BRE: #: WVS180300267
License #: sal.2019007897
Sales Representative
Office
740 860 3555
Agent
304 210 7379
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