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Stacey Jones

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$ 339,999

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7333 Lake AVE Elyria, OH 44035

6,534 Sqft Lot

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision West/Black River & Bounded A

MLS Listing ID 5100888

HOA Y/N No

Year Built 1953

Annual Tax Amount $6,221

Tax Year 2023

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Apartment

Property Description

Welcome to this exceptional mixed-use commercial property, perfectly positioned to offer both residential and commercial opportunities. This versatile asset features two storefronts, four residential units, and a fully rentable garage, making it an ideal investment for those seeking a lucrative real estate venture. 2 Prime Storefronts: Ideal for retail or office space, the storefronts boast high visibility and foot traffic, offering a fantastic opportunity for local businesses to thrive. Currently rented ($400) and ($250) on month to month leases. 4 Residential Units: 3 vacant and 1 rented at ($600)Well-maintained and thoughtfully designed, these residential units provide comfortable living spaces. Each unit is spacious and the break down included 2 (2 bedroom units) and 2 (1 bedroom units) Also included is the Rentable Garage: A valuable addition to the property, the garage can be fully rented out, providing additional income streams. Perfect for tenants needing secure storage or parking. Residents will appreciate the convenience of on-site laundry facilities, adding value to the residential units and enhancing tenant satisfaction. This property includes dedicated parking spaces, ensuring easy access for both residents and customers visiting the storefronts. This property is situated in a vibrant neighborhood, this property benefits from excellent accessibility and is surrounded by a diverse mix of shops, restaurants, and community services. The area is well-connected, making it a desirable location for both commercial tenants and residents. Investment Opportunity: With the combination of commercial and residential spaces, this mixed-use property offers a unique investment opportunity. Whether you are looking to expand your portfolio or start your first venture, this property delivers a solid return on investment with multiple income sources.Don't miss out on this rare find! Contact us today to learn more about this exceptional property and schedule a viewing.

Location

State OH

County Lorain

Rooms

Basement Common Basement

Interior

Heating Electric, Gas

Cooling Central Air, Ceiling Fan(s)

Fireplace No

Laundry Coin-operated

Exterior

Parking Features Additional Parking, Common, On Site, Unassigned

Water Access Desc Public

Present Use Mixed Use,See Remarks

Total Parking Spaces 8

Building

Story 1

Sewer Septic Tank

Water Public

Level or Stories Three Or More

Schools

School District Elyria Csd - 4706

Others

Tax ID 06-24-036-106-012

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Kayla Carosella • Lokal Real Estate, LLC. • 216-252-6580 [email protected]

Stacey Jones

Agent

+1(216) 577-5874

Stacey Jones

7333 Lake AVE Elyria, OH 44035

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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7333 Lake AVE