428 West Avenue, Elyria, OH 44035
Local realty services provided by:CENTURY 21 Full Service Realty
Listed by: kquawan brown
Office: keller williams greater metropolitan
MLS#:5252372
Source:OH_NORMLS
Price summary
- Price:$284,900
About this home
Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features four occupied units, offering immediate income with additional upside through lease-up or rent growth. Current rents include Unit 1 at $880/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $925/month through the Lorain Metropolitan Housing Authority with lease expiring 8/31/2027. Unit 4 at $1100/month (lease expires 12/13/2026 then converts to month to month) 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. Perfect for a client looking to house hack! Live in one unit while the other three generates income....
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Home facts
- Year built:1900
- Subdivision & Development:Heman Elys Town
- Listing ID #:5252372
- Added:7 day(s) ago
- Updated:October 20, 2026 at 02:13 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:4
- Full bathrooms:4
- Rooms Total:12
- Basement:Yes
- Basement Description:Unfinished
Heating and cooling
- Heating:Radiant
Structure and exterior
- Roof:Asphalt
- Year built:1900
- Lot area:0.19 Acres
- Construction Materials:Brick
- Levels:2 Story
Utilities
- Water:Private
- Sewer:Public Sewer
Finances and disclosures
- Price:$284,900
- Tax amount:$3,395 (2025)
Parking
- Parking description:Detached, Garage
- Garage:Yes
- Garage spaces:4
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