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(304) 541-7336 Email (304) 541-7336
Mara Ellis, Realtor
salesperson
REALTOR®, GRI, ABR, SRS,MVP
(304) 541-7336
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122 Elbe Street
Elyria, OH 44035

$1,700,000

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Listing Details

  • $1,700,000
  • MLS# 5201644
  • Type Commercial - Business
  • Status Active
  • 0.330 acres
    Lot Size
  • 1900
    Year Built
  • Elyria City
    Local Schools

Home Value Estimate

Description

A rare opportunity to acquire a 19-unit, 12-property scattered-site portfolio across Elyria and Lorain at $1,700,000, just 25 miles west of Cleveland. Fully occupied, the portfolio delivers $164,867 in NOI at a 9.7% cap rate, $60,340 in annual net cash flow, and a 13.69% cash-on-cash return on a $442,000 total investment. The seller is actively leasing the 2 remaining vacant units at rents consistent with the in-place portfolio, making this a stabilization-in-progress buy rather than a speculative one. The income is built on a foundation of heavy Section 8 participation across a market with deep voucher infrastructure. The Lorain Metropolitan...read more

Features

  • None
  • Forced Air, Gas
  • 2.0 Stories
  • $15,358 / year Taxes
  • Public
  • Built in 1900

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Preferred Communication Method
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Listed By

Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687

Shown By

Agent Name: Mara Ellis, Realtor
Agent Phone: (304) 541-7336
Agency Title: Old Colony, REALTORS®
Agency Contact: Contact

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Mara Ellis, Realtor
Mara Ellis, Realtor Cell: (304) 541-7336 Email Me
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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/18/2026. The listing information on this page last changed on 04/18/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sat 04/18/2026 4:42:22 AM EST) or CBRMLS (last updated Sat 04/18/2026 12:44:52 AM EST) or Beckley MLS (last updated Fri 04/17/2026 3:01:26 PM EST) or Kanawha Valley MLS (last updated Fri 04/17/2026 11:32:13 PM EST) or HTGN MLS (last updated Fri 04/17/2026 11:39:50 PM EST) or Wheeling MLS (last updated Fri 04/17/2026 10:37:04 PM EST) or West Penn MLS (last updated Fri 04/17/2026 11:28:27 PM EST) or NCWV MLS (last updated Fri 04/17/2026 5:43:21 PM EST) or Mercer/Tazewell MLS (last updated Fri 04/17/2026 11:14:16 PM EST) or MLS NOW (last updated Fri 04/17/2026 2:56:36 PM EST) or Greenbrier Valley Board of Realtors (last updated Fri 04/17/2026 11:01:07 PM EST) or Ashland KY MLS (last updated Fri 04/17/2026 10:20:37 PM EST). Real estate listings held by brokerage firms other than Old Colony, REALTORS® may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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