Bob DeHoff - CEO DeHOFF Development
Broker/Owner
REALTOR®
BEDS4
BATHS4 full
MLS#5252372
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHeman Elys Town
SCHOOLElyria City
Property Description
Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features three occupied units and one vacant unit, offering immediate income with additional upside through lease-up or rent growth. Current rents include Unit 1 at $850/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $880/month through the Lorain Metropolitan Housing Authority ($582 subsidy plus $298 tenant portion) with lease expiring 8/31/2026. Unit 4 at $1100/month (lease expires 10/31/2026 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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Unfinished
Cooling: None
Garage: 4
Heating: Radiant
Lot Size: 0.19 Acres
Roof Type: Asphalt
Stories: 2.0
Taxes: $3,395 / year
Year Built: 1900
Feature Descriptions
Days on Site: 1
Exterior: Brick
Parcel#: 06-26-045-000-003
Parking: Detached, Garage
Sewer: Public Sewer
Water: Private
Local Schools
School District: Elyria City
Listed By / Shown By
Listed By
Agency Name: Keller Williams Greater Metropolitan
Agency Contact: kquawanbrown@kw.com, 216-272-4616
Shown By
Agent Name: Bob DeHoff - CEO DeHOFF Development
Agent Phone: (330) 499-8153 ext. 201
Agency Title: DeHOFF REALTORS
Estimate Your Payment
Estimated Payment
$ 1,624.60 per month $1,258.58 Principal & Interest $282.92 Property Tax $83.10 Homeowner's InsuranceChange Payment Information
Bob DeHoff - CEO DeHOFF Development
Office: (330) 499-8153 ext. 201
Voice Mail: (330) 499-8153
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428 West Avenue | MLS# 5252372
This multi-family property located at 428 West Avenue, Elyria, OH 44035 is currently listed for sale with an asking price of $284,900. West Avenue is located within the Elyria City school district. Search Elyria real estate on bdehoff.dehoff.com today.