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$ 425,000
Est. payment /mo
New
7221 Lorain AVE Cleveland, OH 44102
9,239 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Hoyt
MLS Listing ID 5255565
HOA Y/N No
Year Built 1924
Annual Tax Amount $5,826
Tax Year 2025
Lot Size 9,239 Sqft
Acres 0.2121
Property Sub-Type Mixed Use
Property Description
Excellent investment opportunity to own a fully occupied, six-unit mixed-use property located on Lorain Avenue on Cleveland's west side, just minutes from downtown. This well-maintained building features three residential apartments and three commercial storefronts, providing a combination of residential and commercial rental income. All six spaces are currently occupied, generating $4,550 in monthly rental income and $54,600 in annual gross rental income. The residential apartments feature updated bathrooms and convenient in-unit laundry, while the property also offers a large fenced rear parking area. With established tenants, multiple income streams, and potential for future rental income growth, this property presents an excellent opportunity for investors looking to expand their real estate portfolio. Proof of funds or pre-approval may be required prior to scheduling. For additional information or to schedule a private showing, call or text Peter Spirollari at (216) 235-8297. AGENT OWNED — Peter Spirollari.
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air
Fireplace No
Exterior
Parking Features Alley Access
Fence Chain Link
Water Access Desc Public
Total Parking Spaces 10
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 006-11-018
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Listed by Peter Spirollari • Century 21 Homestar • petersold@gmail.com, 216-235-8297
NEARBY SCHOOL & BUSINESS
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