Listed price in listed location currency (USD).
$299,900

441

MLS® 5209212

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size 4800 sqft
Garage Yes
Taxes $3,395
Days Active 0
Lot Size 0.19 Acres
Approx. Age 1900
Avg. Price Per Sqft $62
MLS® Number 5209212

Property Address: 428 West Ave, Elyria, OH, 44035-5779

Average square foot calculated using Size range provided by listing agent.

Description

Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features three occupied units and one vacant unit, offering immediate income with additional upside through lease-up or rent growth. Current rents include Unit 1 at $850/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $880/month through the Lorain Metropolitan Housing Authority ($582 subsidy plus $298 tenant portion) with lease expiring 8/31/2026. Unit 4 is currently vacant, providing an opportunity for an owner-occupant or an investor to increase cash flow. The property features a durable brick exterior and numerous updates, including a new boiler system, helping reduce future capital expenditures. Conveniently located near shopping, dining, schools, and major highways, this property offers stable tenancy and strong rental demand. Whether you're a seasoned investor looking for a performing asset or seeking to expand your multifamily portfolio, 428 West Ave presents a compelling opportunity with immediate income and value-add potential.
MLS® Number5209212
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1900
BasementUnfinished
DrivewayAttached, Driveway, Garage
Garage Spaces
HeatHot Water, Steam
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 22, 2026List Date
$299,900List Price
  • Commute

Commute

Starting Address
Destination Address
428 West Ave, Elyria, OH

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