REQUEST A TOUR
$ 199,900
Est. payment /mo
Active Under Contract
2914-2916 Seneca AVE Lorain, OH 44055
4,791 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Sheffield Land Co
MLS Listing ID 5201930
HOA Y/N No
Year Built 1931
Annual Tax Amount $4,717
Tax Year 2025
Contingent Inspections
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type Apartment
Property Description
Exceptional turnkey investment opportunity in Lorain featuring six total rental units, including a 5-unit multifamily building plus a stand-alone efficiency unit, now combined onto one parcel for simplified ownership and management. With four of the six units rent ready and two currently occupied at $725 and $925 per month, this property offers immediate income with strong lease-up potential.
The property has seen over $70,000 in recent renovations and improvements, including updates to unit interiors and major building systems. All units are separately metered for gas and electric, with tenants paying their own utilities, helping keep owner expenses low and maximizing cash flow.
The unit mix includes both one and two bedroom layouts, with select one bedroom units offering additional bonus space that enhances rental appeal and flexibility. Additional features include a basement with furnaces, water heaters, and sump pumps, along with an unused garage space that offers future value-add potential for storage or additional income.
This is a rare opportunity to acquire a ready-to-go, income-producing multifamily asset with strong cash flow and long-term upside.
The property has seen over $70,000 in recent renovations and improvements, including updates to unit interiors and major building systems. All units are separately metered for gas and electric, with tenants paying their own utilities, helping keep owner expenses low and maximizing cash flow.
The unit mix includes both one and two bedroom layouts, with select one bedroom units offering additional bonus space that enhances rental appeal and flexibility. Additional features include a basement with furnaces, water heaters, and sump pumps, along with an unused garage space that offers future value-add potential for storage or additional income.
This is a rare opportunity to acquire a ready-to-go, income-producing multifamily asset with strong cash flow and long-term upside.
Location
State OH
County Lorain
Interior
Heating Gas
Fireplace No
Exterior
Parking Features Asphalt, Parking Lot
Water Access Desc Public
Roof Type Flat
Present Use Commercial
Building
Foundation Basement
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Lorain Csd - 4709
Others
Tax ID 03-00-095-102-018
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Oliver Moreau • Progressive Urban Real Estate Co • omoreau@progressiveurban.com, 216-536-8535
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION