7444 Lake Ave., Elyria, OH 44035

The property consists of eight residential units, including 3 one-bedroom units, 4 two-bedroom units, and 1 three-bedroom unit, providing a desirable unit mix that appeals to a broad tenant base. The current ownership has completed numerous improvements throughout the property, including renovated apartments, exterior upgrades, roof coating, plumbing and electrical improvements, and replacement of the main water lines and water meter.

An additional value-add opportunity exists through the expansion of Apartment 6, where over 200 square feet was added, creating the potential for an additional apartment or expanded living space (subject to buyer verification and local approvals).

The property offers ample on-site parking and is conveniently located near shopping, restaurants, schools, healthcare facilities, and major transportation corridors, making it an attractive location for tenants.

Currently, the owner pays all utilities, providing an opportunity for future ownership to evaluate utility reimbursement programs or operational efficiencies.

Whether you're looking to add a stabilized asset to your portfolio or reposition a property with additional upside, 7444 Lake Ave. presents an excellent opportunity in the growing Elyria multifamily market.

Location Highlights

• Convenient access to I-90, Route 2, and the Ohio Turnpike
• Close to shopping, grocery stores, restaurants, parks, and schools
• Approximately 30 minutes to Downtown Cleveland
• Located in an established residential neighborhood with consistent rental demand

Disclaimer

The information contained herein has been obtained from sources believed to be reliable and is provided solely for informational purposes. While Phoenix9 Realty Inc. has made reasonable efforts to verify the information, neither the broker nor the property owner makes any representation or warranty, express or implied, regarding its accuracy or completeness.

Prospective purchasers are advised to conduct their own independent investigation, inspection, and due diligence concerning the property, including, but not limited to, the physical condition, financial performance, leases, zoning, environmental matters, square footage, utility information, and all other material facts. Any projections, financial analyses, pro forma statements, rent information, or opinions contained herein are estimates only and should not be relied upon as guarantees of future performance.

The property is offered AS IS, WHERE IS, with all faults and without any warranties except as may be expressly stated in a fully executed Purchase Agreement.

The seller reserves the right to modify pricing, terms, conditions, or to withdraw the property from the market at any time without prior notice. The seller also reserves the right to reject any or all offers.

• This Offering Memorandum is confidential and is intended solely for the use of prospective purchasers and their advisors. Distribution or reproduction of this material, in whole or in part, without the prior written consent of Phoenix9 Realty Inc. is prohibited.