428 West AVE Elyria, OH 44035
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $62
Subdivision Heman Elys Town
MLS Listing ID 5209212
Bedrooms 4
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 3,118
Year Built 1900
Annual Tax Amount $3,395
Tax Year 2025
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Quadruplex
Stories Two
Story Two
Property Description
Current rents include Unit 1 at $850/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $880/month through the Lorain Metropolitan Housing Authority ($582 subsidy plus $298 tenant portion) with lease expiring 8/31/2026. Unit 4 is currently vacant, providing an opportunity for an owner-occupant or an investor to increase cash flow.
The property features a durable brick exterior and numerous updates, including a new boiler system, helping reduce future capital expenditures. Conveniently located near shopping, dining, schools, and major highways, this property offers stable tenancy and strong rental demand.
Whether you're a seasoned investor looking for a performing asset or seeking to expand your multifamily portfolio, 428 West Ave presents a compelling opportunity with immediate income and value-add potential.
Location
State OH
County Lorain
Rooms
Basement Unfinished
Interior
Heating Hot Water, Steam
Cooling None
Fireplace No
Exterior
Parking Features Attached, Driveway, Garage
Garage Spaces 1.0
Garage Description 1.0
Water Access Desc Public
Roof Type Asphalt
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Elyria Csd - 4706
Others
Tax ID 06-26-045-000-003
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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Emily Shortall
Broker Associate, Agent | OH & WV | License ID: 2015000549,WV0029886