4126 E Erie St - Apartments FOR SALE


Willoughby, OH 44094- Downtown Willoughby
$1,799,000 USD
216-401-9697
4126 E Erie St, Willoughby, OH for Sale
$1,799,000 USD
Apartments - FOR SALE
1/39
null | 7.02% Cap Rate

4126 E Erie St
Willoughby, OH 44094
Downtown Willoughby


HIGHLIGHTS

  • Fully Stabilized | 100% Occupied Mixed-Use Asset
  • 11 Total Units | 9 Residential, 2 Commercial
  • Strong Commercial Tenancy | Law Firm and Retail User
  • Below-Market Rents | Opportunity for Revenue Growth
  • Walkable Location | Surrounded by Dining and Amenities
  • Limited Supply | Rare Downtown Mixed-Use Opportunity

OVERVIEW

This offering presents a rare opportunity to acquire a fully leased, mixed-use investment property in the heart of Downtown Willoughby's vibrant retail corridor. Positioned within walking distance of popular restaurants, bars, boutiques, and entertainment, the property benefits from exceptional visibility, strong pedestrian traffic, and a location that continues to attract both residents and businesses. Properties of this size, quality, and location rarely become available, particularly with stabilized cash flow and meaningful upside potential. The asset consists of 11 total units, including two street-level commercial suites and nine residential apartments, creating a well-diversified income stream. The commercial component is anchored by established long-term tenants, providing dependable cash flow, while the residential units maintain strong occupancy and benefit from continued demand in Downtown Willoughby. Current apartment rents remain below market, offering investors a clear path to increasing income over time. Additional investment highlights include rear tenant parking—a highly desirable and uncommon amenity in Downtown Willoughby—separately metered gas and electric service for all residential units, individually controlled HVAC systems throughout the building, and significant capital improvements, including updated electrical service, a replacement rubber roof, and modern HVAC systems. With 100% occupancy, stable in-place income, a prime downtown location, and future rental upside, this property offers investors the ideal combination of immediate cash flow, long-term appreciation potential, and durable asset quality.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

11

PRICE/UNIT

$163,545

CAP RATE

7.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Office, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

D-B, WIlloughby

APN/PARCEL ID

27-A-029-B-00-003

ASK ABOUT THIS PROPERTY

Paul TretterGatto Group IncMore Info
216-401-9697

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Paul TretterGatto Group IncMore Info
216-401-9697

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