2833 Seneca Ave - Multi-Family FOR SALE


Lorain, OH 44055
$699,000 USD
732-757-6393
2833 Seneca Ave, Lorain, OH for Sale
$699,000 USD
Multi-Family - FOR SALE
1/1
null | Request Cap Rate

2833 Seneca Ave
Lorain, OH 44055


HIGHLIGHTS

  • trong In-Place Cash Flow — 15 fully rented studio units generating approximately $10,500/month in gross rental income with operational upside potentia
  • Well-Maintained Multifamily Asset — Solid 3-story building in good condition with stable tenancy and limited immediate capital improvement needs.
  • Affordable Workforce Housing Demand — Efficient studio layout and attainable rental rates position the property well within the growing Lorain rental

OVERVIEW

Located at 2833 Seneca Ave, this well-maintained 15-unit multifamily property presents an exceptional investment opportunity in a strong rental market. Comprised entirely of studio apartments, the asset offers stable in-place income with straightforward management and consistent tenant demand. The property is currently generating approximately $10,500 per month in gross rental income, with units averaging $700 per month. The building has been maintained in good condition, minimizing immediate capital expenditure needs and providing investors with a turnkey opportunity. With professional management expenses estimated at just 10%, the property offers attractive operational efficiency and strong cash flow potential. This asset is ideal for investors seeking dependable income, long-term appreciation, and a scalable addition to their multifamily portfolio.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$70 USD /SF

# OF UNITS

15

PRICE/UNIT

$46,600

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seneca Studios

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

03-00-095-108-027

ASK ABOUT THIS PROPERTY

Nikhil VishakantaWe InvestMore Info
732-757-6393

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Nikhil VishakantaWe InvestMore Info
732-757-6393

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