$294,900
About this home
Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features three occupied units and one vacant unit, offering immediate income with additional upside through lease-up or rent growth. 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 at $1100/month (lease expires 10/31/2026 then converts to month to month) 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.
Property details
- MLS #
- 5209212
- Property type
- Quadruplex
- Subdivision
- Heman Elys Town
- Status
- Active
- Days on market
- 91
- On market date
- May 12, 2026
- Stories
- 2
- Total bathrooms
- 4
- Garage spaces
- 1
- Parking spaces
- N/A
- Lot size
- 0.19 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 411
- Student:teacher ratio
- 16.4:1
- District
- Elyria City Schools
- Enrollment
- 704
- Student:teacher ratio
- 16.8:1
- District
- Elyria City Schools
- Enrollment
- 1,667
- Student:teacher ratio
- 16.2:1
- District
- Elyria City Schools
Walkability
Blended score for Elyria's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Elyria, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated August 11, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.