22-Unit Apartment
For Sale
Contact for pricing
Pending
1163 E Erie Ave, Lorain, OH 44052
Brick apartment complex with 22 units, including efficiency suites and two six-unit sections.
Property SizeContact for details
Days on Market143
Property Features for 1163 E Erie Ave
General Information
Standard status
Pending
Property subtype
Multifamily
Occupancy
90%
Net Operating Income
$124,733
Financials
Asking Price
$1,700,000
Cap Rate
7.34%
Additional Details
Multifamily Units
22
Building Details
Construction
brick
Listing Agency:
Green Bridge Real Estate
Listed By:
Jason Griffith · License #OH
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 7:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Green Bridge Real Estate
Investment Insights
Based on property information with market context.
The Kayann Apartments comprise a 22-unit multifamily property in Lorain, Ohio. The complex includes two six-unit sections and 10 efficiency suites, with primarily brick exterior construction complemented by some vinyl siding. Twenty units are occupied, representing 90% occupancy, and all tenants are reported as market-rate occupants with no subsidy-based income.
The property occupies a corner location at 1163 E Erie Ave. Current annual laundry revenue is $4,800, while gross annual rental income is $164,639 and net annual income is $124,733. The building offers an established apartment configuration with multiple unit types and on-site laundry revenue.
The property occupies a corner location at 1163 E Erie Ave. Current annual laundry revenue is $4,800, while gross annual rental income is $164,639 and net annual income is $124,733. The building offers an established apartment configuration with multiple unit types and on-site laundry revenue.
Key Highlights
- 22‑unit apartment complex with two six‑unit sections and 10 efficiency suites
- 20 occupied units and 90% current occupancy
- 100% market‑rate tenants with 0% subsidy‑based income
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
90%
Occupancy
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 44052, OH
29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick apartment complex with 22 units, including efficiency suites and two six-unit sections.
Where is this apartment building located?
The property is located at 1163 E Erie Ave Lorain, OH.
What are key features of this property?
This property features: 22‑unit apartment complex with two six‑unit sections and 10 efficiency suites; 20 occupied units and 90% current occupancy; 100% market‑rate tenants with 0% subsidy‑based income
