161 High St - Apartments FOR SALE


Elyria, OH 44035
$399,000 USD
216-402-7039
161 High St, Elyria, OH for Sale
$399,000 USD
Apartments - FOR SALE
1/13
null | 8.82% Cap Rate

161 High St
Elyria, OH 44035


OVERVIEW

https://tour.panoee.net/698c7eba1f39a56d8bb8a3ba/698c7f1060c07b57330c2346 (Walking tour) Brand New Construction Duplex – Completed December 2025. Turn-key investment opportunity with strong cash flow and long-term tax advantages. This newly built duplex features two spacious units, each offering 3 bedrooms, 1 full bath, and 1,216 square feet of living space per side (2,432 total sq ft). Both units are leased with 2-year agreements in place, generating $3,000 per month ($36,000 annually) in rental income. The property delivers an 8%+ cap rate, making it an excellent addition to any investment portfolio. Enjoy a 15-year, 100% tax abatement, significantly reducing operating expenses and increasing net returns. As new construction completed in December 2025, the property also includes a 1-year builder warranty for added peace of mind. Low maintenance, stabilized income, and strong returns — this is a true turnkey investment.

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

2

PRICE/UNIT

$199,500

CAP RATE

8.82%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

-

APN/PARCEL ID

06-24-027-108-032

ASK ABOUT THIS PROPERTY

Jake TarskiJacob TarskiMore Info
216-402-7039

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Jake TarskiJacob TarskiMore Info
216-402-7039

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.