10-Unit Lorain Apt Building
7.84% CAP | TONS of Upside Potential
Marketing description
Excellent investment opportunity in Lorain, Ohio—a fully occupied 10-unit apartment building in a high-demand rental market with low property taxes. Each unit is a one-bedroom, one-bath, with many updates already completed, making this a low-maintenance, easy-to-manage asset. There's additional upside with a currently unused storage area that could generate $50–$100 per month, and a small coin operated laundry room for extra income. The owner currently covers water, sewer, and gas due to the on-site boiler system. With rents significantly below market, there's immediate potential to increase revenue by $200-$300 per unit on renewals with minimal to no upgrades required.
Investment highlights
Fully occupied 10-unit apartment building
Strong tenant demand in a high-occupancy rental market
Low-maintenance asset – numerous recent updates throughout the property
Value-add potential - all rents well below market value
Additional revenue streams include an unused storage area & an on-site coin-operated laundry room
Located in a low-tax area with strong rental demand, offering solid cash flow & long-term upside
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