9615 Lorain AveCleveland, OH 44102

For Sale
$1,325,000

Cash flowing, turnkey investment opportunity.

Overview

Added:
Feb 3
Days on market:
37
This exceptional 17-unit brick building, located at 9615 Lorain Avenue in Cleveland, Ohio, presents a compelling investment opportunity. The property sits on a 0.27-acre lot and boasts 15 apartments and two storefronts, currently generating a substantial monthly gross rental income of $13,510, or $162,120 annually. The building is a turnkey operation with a waiting list of tenants, demonstrating strong market demand. Recent improvements include a complete main electrical system update, a new water heater, and renovations to seven apartments. The property is Lead Certified by the City of Cleveland, ensuring compliance and peace of mind. Further income streams are generated through a monthly parking fee, and the basement offers significant potential for expansion, such as adding a laundry service. Its prime location near major highways, public transportation, downtown Cleveland, and the vibrant Ohio City shopping and dining district enhances its appeal and ensures consistent tenant occupancy. This well-maintained building offers a strong cap rate and presents an ideal long-term investment for building wealth. The property's current performance and potential for growth make it a highly attractive investment opportunity in a thriving market.

Property Details for 9615 Lorain Ave

Property type
Residential income properties, Multifamily properties
Year Built
1910
Lot Size (sq. ft)
11,761 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.4682
Longitude
-81.74926
9615 Lorain Ave, Cleveland, Ohio

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9615 Lorain Ave
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