428 West Avenue, Elyria, OH 44035

Elyria
Local realty services provided by:ERA Real Solutions Realty
428 West Avenue,Elyria, OH 44035
$299,900
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  • 4 Beds
  • 4 Baths
  • 4,800 sq. ft.
  • Multi-family
  • Active
Listed by: kquawan brown
Office: keller williams greater metropolitan
MLS#:5209212
Source:OH_NORMLS

Price summary

  • Price:$299,900
  • Price per sq. ft.:$62.48

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 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...

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Home facts

  • Year built:1900
  • Listing ID #:5209212
  • Added:11 day(s) ago
  • Updated:July 03, 2026 at 02:53 PM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:4
  • Full bathrooms:4
  • Rooms Total:12
  • Basement:Yes
  • Basement Description:Unfinished
  • Living area:4,800 sq. ft.

Heating and cooling

  • Heating:Hot Water, Steam

Structure and exterior

  • Roof:Asphalt
  • Year built:1900
  • Building area:4,800 sq. ft.
  • Lot area:0.19 Acres
  • Construction Materials:Brick
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$299,900
  • Price per sq. ft.:$62.48
  • Tax amount:$3,395 (2025)

Parking

  • Parking description:Attached, Driveway, Garage
  • Garage:Yes
  • Garage spaces:1
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