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5001-5003 Oberlin Ave
Lorain, OH 44053
Bruce Towers Apartments · Multifamily Property For Sale · 46 Units

INVESTMENT HIGHLIGHTS

  • Currently 93.5% occupied with a 2020 Net Operating Income of $133,882 or a 7.28% Cap Rate at the Asking Price of $1,840,000.00.
  • Excellent Value Add Opportunity to Increase Current Revenues by increasing rents.
  • 10.96% Projected Cap rate based on 100% Occupancy
  • Out of State Ownership Directs Immediate Sale!

PROPERTY FACTS

No. Units 46
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 1.74 AC
Building Size 32,904 SF
Average Occupancy 100%
No. Stories 2
Year Built 1960
Parking Ratio 2.04/1,000 SF
Zoning MF

AMENITIES

UNIT AMENITIES

  • Heating
  • Kitchen
  • Refrigerator
  • Oven

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 30 $510.00 -
2+1 16 $565.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02-01-008-101-214
Land Assessment
$63,669
Improvements Assessment
$350,819
Total Assessment
$414,488
  • Listing ID: 22627703

  • Date on Market: 4/2/2021

  • Last Updated:

  • Address: 5001-5003 Oberlin Ave, Lorain, OH 44053

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