1505 Herbert DR, Lorain, OH 44053
1505 Herbert DR, Lorain, OH 44053
1505 Herbert DR, Lorain, OH 44053
1505 Herbert DR, Lorain, OH 44053
1505 Herbert DR, Lorain, OH 44053
1505 Herbert DR, Lorain, OH 44053
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Cherri Harrell

Cherri Harrell

+1(216) 269-6296
$ 699,000
Est. payment | /mo

0.44 Acres Lot

Save
$ 699,000
Est. payment | /mo
Save

0.44 Acres Lot

Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Ashwood Acres Sub #1

MLS Listing ID 5204706

HOA Y/N No

Year Built 1973

Annual Tax Amount $5,644

Tax Year 2025

Lot Size 0.440 Acres

Acres 0.44

Property Sub-Type Apartment

Property Description

This newly renovated 8 suite apartment building is fully occupied with an excellent rent roll, all at or near $850/month. Each unit is a 1 bed, 1 bath and all are quite spacious! Most units have had flooring, kitchen countertops and backsplash updates, some new cabinets, new baths and fresh paint. The roof was just replaced, as well. A huge money saver maintenance-wise, these units have electric heat in the ceilings, so no boilers or furnaces to worry about and there is 1 community washer/dryer that is coin operated, generating roughly $125/month. These apartment buildings are tucked in amongst other buildings like it and there is plenty of parking for tenants in the rear of the building. This building is a dream for a landlord and at a 8.5% cap rate, a great income earner.

Location

State OH

County Lorain

Interior

Heating Electric

Cooling Ceiling Fan(s), Wall Unit(s)

Fireplace No

Exterior

Parking Features Additional Parking

Water Access Desc Public

Present Use Multi-Family

Building

Sewer Public Sewer

Water Public

Schools

School District Lorain Csd - 4709

Others

Tax ID 02-02-005-112-014

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now
Listed by Julie L Hogston • Real of Ohio • juliesellshomes1@gmail.com, 440-829-9268

Nearby Locations

Cherri Harrell

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(216) 269-6296

cherriharrell@homesbyharrell.com

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree to receive recurring marketing communication from or on behalf of Premiere Realty, Inc, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

Go tour this home

1505 Herbert DR