316 W 10th Street, Lorain, OH 44052

Property Description

Discover this beautifully updated triplex in the heart of Lorain — a standout opportunity for both house hackers and investors. Located at 316 W 10th St, the property features two spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The 1-bedroom unit is currently rented, while the two larger units are vacant and move-in ready, giving a new owner the flexibility to place tenants immediately or occupy a unit themselves. When fully stabilized, projected gross rents total approximately $2,700 per month - based on an evaluation of comparable rents in the area - offering an attractive estimated 9.9% cap rate. This triplex has undergone extensive updates, including nearly all new windows (2025), a roof replaced around 2021, fresh interior and exterior paint, new vinyl siding (2025), and new flooring throughout. The bathrooms have been updated with tubs, toilets, vanities, and the exterior features fresh landscaping for added curb appeal. Additionally, the property includes new furnaces (2022) and hot water tanks (2023), ensuring low-maintenance ownership for years to come. Additionally, extra paint and flooring are being left on-site for the new owner in case future repairs or touch-ups are needed. The owner currently covers water and sewer, while tenants handle the remaining utilities. With significant improvements already completed and strong income potential once fully rented, 316 W 10th St is a rare opportunity at this price point. It’s an ideal choice for investors seeking reliable cash flow or buyers looking to live in one unit while generating income from the rest.