317 West Avenue, Elyria, OH 44035
- $119,000
- 4
- BD
- 3
- BA
- 2,112
- SqFt
- Sold Price
- $119,000
- List Price
- $129,000
- Status
- CLOSED
- Days on Market
- 92
- Closing Date
- Apr 29, 2026
- MLS#
- 5183741
- Subtype
- Residential Income
- Year Built
- 1887
- Bedrooms
- 4
- Bathrooms
- 3
- Full Baths
- 3
- Living Area
- 2,112
- Acres
- 0.31
- Subdivision
- Village/Elyria
- Neighborhood
- Village/Elyria
- MLS Area Major
- Elyria
Property Description
Turnkey, cash-flowing 3-unit multifamily investment with long-term stability and minimal maintenance. All three units are occupied by reliable tenants with 10+ years of residency, providing consistent income and low turnover. Tenants handle landscaping and minor repairs, reducing owner involvement. Property has been thoughtfully maintained with efficiency upgrades and minimal deferred maintenance. Recent improvements include a fully tuned and serviced boiler with replacement of dated components and new high-efficiency window/portable A/C units for each unit. Unit mix includes two 1-bed/1-bath units and one 2-bed/1-bath unit. Current rents total $1,750 per month with approximate monthly expenses of $500, producing strong net income and an attractive cap rate at asking price. All utilities are on one meter for simplified management. Ideal buy-and-hold opportunity offering immediate cash flow from day one. Don’t miss this solid income-producing asset—contact agent for additional details.
Additional Information
- Taxes
- $2,006
- Heating
- Baseboard
- Air Conditioning
- Window Unit(s)
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Parking Features
- Concrete, Private
- School District
- Elyria CSD - 4706
Listing Courtesy of: Marian Lukach, mariog.lukach@gmail.com With Keller Williams Greater Metropolitan
Selling Office: EXP Realty, LLC..Mortgage Calculator
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