$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

N/A

Stories

2

Garage spaces

1

Lot size

0.19 acres

Nearby schools

Within 10 miles · public school directory data (NCES)