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Meagan Daisher

megsdashinghomes@gmail.com +1(216) 465-0627

$ 284,900

Est. payment | -/mo

4 Beds

4 Baths

8,468 Sqft Lot

Save

$ 284,900

Est. payment | -/mo

Save

4 Beds

4 Baths

8,468 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Heman Elys Town

MLS Listing ID 5252372

Bedrooms 4

Full Baths 4

HOA Y/N No

Year Built 1900

Annual Tax Amount $3,395

Tax Year 2025

Lot Size 8,468 Sqft

Acres 0.1944

Property Sub-Type Quadruplex

Property Description

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.

Location

State OH

County Lorain

Rooms

Basement Unfinished

Interior

Heating Radiant

Cooling None

Fireplace No

Exterior

Parking Features Detached, Garage

Garage Spaces 4.0

Garage Description 4.0

Water Access Desc Private

Roof Type Asphalt

Private Pool No

Building

Sewer Public Sewer

Water Private

Level or Stories Two

Schools

School District Elyria Csd - 4706

Others

Tax ID 06-26-045-000-003

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Kquawan Brown • Keller Williams Greater Metropolitan • kquawanbrown@kw.com, 216-272-4616

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(216) 465-0627

megsdashinghomes@gmail.com

545 Metro Place S., Suite 100, Dublin, OH 43017

428 West AVE Elyria, OH 44035