332 4Th StElyria, OH 44035

Property Details for 332 4Th St

Year built

1965

Lot size

0.38 AC

Property size (Sq ft)

5,060 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

06-26-046-000-024

APU

626046000024

Description

This exceptional 16-unit apartment building presents a compelling investment opportunity in the thriving city of Elyria, Ohio. Situated on a sizable 0.38-acre lot at 332 4th Street, this property offers significant potential for income generation and value appreciation. The solid construction provides a strong foundation for long-term ownership, while the desirable location ensures consistent high rental demand. The building's current configuration provides a solid base for immediate income, but also presents a unique opportunity for modernization and optimization. Potential improvements could include unit renovations, amenity upgrades, or enhanced management strategies, all of which could lead to substantial increases in profitability. This property is an ideal addition to any investor's portfolio, offering a blend of stability and growth potential. The asking price is $650,000. The square footage is not currently available. This is a rare chance to acquire a well-located multifamily property in a strong rental market. Don't miss this chance to expand your real estate holdings with a property that promises both immediate returns and long-term growth. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,128,764

  6.5%

  $1,041,936

  7%

  $967,512

• Comparable approach

  Method

  Valuation

  Relative Method

  $733,634

  Geo Method

  $733,634

• Alternative Use

  Use

  Valuation

  Residential

  $1,041,936

  Hospitality

  $954,408

  Educational

  $794,056

  Medical

  $821,365

  Retail

  $1,235,198

Location Insight

City

Elyria

County

Lorain

State

Ohio

Latitude

41.3639

Longitude

-82.1088

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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