7333 Lake AVE Active Save Request In-Person Tour Request Virtual Tour
Elyria,OH 44035
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision West/Black River & Bounded A
MLS Listing ID 5084021
HOA Y/N No
Year Built 1953
Annual Tax Amount $6,221
Tax Year 2023
Lot Size 6,534 Sqft
Acres 0.15
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
Garage 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
Listing Terms Cash,Conventional
Special Listing Condition Standard