19860 Lorain Rd - Apartments FOR SALE


Fairview Park, OH 44126
$749,900 USD
440-263-7501
19860 Lorain Rd, Fairview Park, OH for Sale
$749,900 USD
Apartments - FOR SALE
1/9
null | 3.04% Cap Rate

19860 Lorain Rd
Fairview Park, OH 44126


HIGHLIGHTS

  • 6 Spacious Units - mix of 1BR & 2BR apartments with consistent rental demand
  • NEW Roof(s) (2020 and 2025) - reduces capital expenditure risk fpr incoming investor
  • 100% bonus Depreciation (2025) - significant tax advantage fpr investors!

OVERVIEW

Prime investment opportunity in Fairview Park - This 6-Unit Apartment Building is Nestled in the highly sought-after suburb of Fairview Park. This well maintained 6-unit apartment building offers a rare investment opportunity in a thriving rental market. Boasting garage parking for all units plus additional guest parking, the property ensures convenience for tenants while offering easy access to major highways. Over the last years, the building has undergone extensive updates, making it nearly maintenance-free. Improvements include: NEW Building Roof (2020), NEW Garage Roof (2025), two renovated units featuring new carpet, fresh paint throughout with one updated electrical panel (2025), NEW parking lot drain, new furnaces and new water heaters. The all BRICK building is situated just minutes from scenic parks, shopping, fine dining, vibrant nightlife, nearby beach, the location offers the perfect balance of suburban charm and city convenience. Downtown Cleveland is a quick drive, making it ideal for commuters. With long-term tenants in place and below market rents, this property presents strong upside potential for increased cash flow. DO NOT miss this turn-key investment in one of Northeast Ohio's premier communities. Sellers Building Inspection Report also available upon request with Pre-Approval letter or Proof of Funds,

FOR SALE DETAILS

PRICE

$749,900 USD

PRICE/SF

$123 USD /SF

# OF UNITS

6

PRICE/UNIT

$124,983

CAP RATE

3.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

19860 Lorain Road, Fairview Park Ohio 44126

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

RMF-G

APN/PARCEL ID

323-14-001

ASK ABOUT THIS PROPERTY

George MastrosavasHoward Hanna Real Estate ServicesMore Info
440-263-7501

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George MastrosavasHoward Hanna Real Estate ServicesMore Info
440-263-7501

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