1888 E 28th ST new Save Request In-Person Tour Request Virtual Tour
Lorain,OH 44055
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Sheffield Land & Improv C
MLS Listing ID 5137926
HOA Y/N No
Year Built 1925
Annual Tax Amount $3,382
Tax Year 2024
Lot Size 0.290 Acres
Acres 0.29
Property Sub-Type Apartment
Property Description
Excellent investment opportunity in Lorain, Ohio—a fully occupied 10-unit apartment building in a high-demand rental market with low property taxes. Each unit is a one-bedroom, one-bath, with many updates already completed, making this a low-maintenance, easy-to-manage asset. There's additional upside with a currently unused storage area that could generate $50–$100 per month, and a small coin operated laundry room for extra income. The owner currently covers water, sewer, and gas due to the on-site boiler system. With rents significantly below market, there's immediate potential to increase revenue by $200-$300 per unit on renewals with minimal to no upgrades required.
Location
State OH
County Lorain
Interior
Heating Hot Water,Steam
Fireplace No
Exterior
Parking Features On Site,Paved
Roof Type Flat
Schools
School District Lorain Csd - 4709
Others
Tax ID 03-00-095-101-022
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange
Special Listing Condition Standard