2851 Oakwood Avenue, Lorain, OH 44055
- $235,000
- Sold Price
- $235,000
- List Price
- $265,000
- Status
- CLOSED
- Days on Market
- 287
- Closing Date
- Aug 13, 2026
- MLS#
- 5167228
- Subtype
- Commercial Sale
- Year Built
- 1900
- Acres
- 0.14
- Subdivision
- Sheffield Land Co
- Neighborhood
- Sheffield Land Co
- MLS Area Major
- Lorain
Property Description
Occupied and cash flowing 6 unit apartment building! This fully occupied 6 unit property is ready for the buyer looking to take advantage of a cash flowing, stabilized asset. The 6 units are grossing $4,125 currently, well over the 1% rule. The unit mix consists of (1) studio unit, (3) one bedroom units, and (2) two bedroom units. Majority of the units have been moderately updated including vinyl plank flooring, new paint, appliances, etc. Walk into stable cashflow, or raise rents to proforma / section 8 standards and get this property grossing over $4,500 per month! The owner pays water/sewer as well as gas for the hot water tanks and landscaping. Tenants are responsible for their own electricity.
Additional Information
- Taxes
- $2,488
- Heating
- Baseboard
- School District
- Lorain CSD - 4709
Listing Courtesy of: Michael Orlando, mjorlando1994@gmail.com With Key Realty
Selling Office: RE/MAX Haven Realty.Mortgage Calculator
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