OH > Lorain > Cambridge Harbour House Condo
Lorain, OH 44053,3960 W Erie AVE
Lorain, OH 44053,3960 W Erie AVE
Lorain, OH 44053,3960 W Erie AVE
Lorain, OH 44053,3960 W Erie AVE
Lorain, OH 44053,3960 W Erie AVE
Lorain, OH 44053,3960 W Erie AVE
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Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 910,000
Est. payment | /mo

492 Sqft Lot

Save
$ 910,000
Est. payment | /mo
Save

492 Sqft Lot

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision Cambridge Harbour House Condo

MLS Listing ID 5100651

HOA Y/N No

Year Built 1967

Annual Tax Amount $832

Tax Year 2024

Lot Size 492 Sqft

Acres 0.0113

Property Sub-Type Other

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).

Location

State OH

County Lorain

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Exterior

Water Access Desc Public

Building

Sewer Public Sewer

Water Public

Schools

School District Lorain Csd - 4709

Others

Tax ID 02-02-020-701-014

Special Listing Condition Standard

Listed by Michael Orlando • Key Realty • mjorlando1994@gmail.com 216-956-1884
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"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."

+1(216) 971-3161

info@luxehauscle.com

1991 Crocker Rd. Suite 600, Westlake, OH, 44145, United States

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