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Income-Producing Duplex with Recent Updates

508 W 23rd Street, Lorain, OH 44052

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For Sale

Under Contract

$155,000

MULTI_FAMILY - Lorain, OH

Property size:

2,274 SF

Lot size:

0.17 Acres

Price / SF:

$68/SF

HighLights

Two‑unit property currently receiving $1,750 total rent ($900 upper unit, $850 lower unit), with tenants up to date on rent
Upstairs unit includes a private balcony; lower unit offers covered porches; each unit has its own in‑unit laundry area
Updates include newer vinyl siding, newer roof, and vinyl windows
Appliances included with the units: range, refrigerator, washer, and dryer
Major mechanical updates include two hot water tanks installed in 2020 and a newer furnace; two furnaces total (one in basement, one for upstairs unit)
Public utilities: public water and public sewer; parking includes a driveway and garage

We can help!

Contact an agent

Angie Lopez

For Sale

Under Contract

$155,000

MULTI_FAMILY - Lorain, OH

Property size:

2,274 SF

Lot size:

0.17 Acres

Price / SF:

$68/SF

Added:: Mar 29, 2026
Days on Market:: 97
Last Refresh:: Jul 3 at 4:06 pm

Property Features for 508 W 23rd Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 2
Rooms: Bedroom 1, Bedroom 3, Laundry Room, Basement, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2
Parking features: Driveway, Garage
Appliances: Dryer, Range, Refrigerator, Washer
Standard status: Active Under Contract
APN: 02-01-003-171-021
Size: 2,274 SF
Lot size: 0.17 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: HOGAN 3RD 50 X 150
Tax Annual Amount: 1170

Utilities

Sewer type: Public Sewer
Heating system: Forced Air
Water source: Public

Building Details

Year built: 1900
Floors in Building: 2
Building materials: VinylSiding
Roof type: Asphalt, Fiberglass, Shingle

We can help!

Contact an agent

Angie Lopez

Listing agent Angie Lopez License #2021002776

Listing office Keller Williams Citywide 2001 Crocker Road, Suite 200, Westlake, OH

Listing date Mar 29, 2026

MLS# 5195958 Listing URL

HighLights

Two‑unit property currently receiving $1,750 total rent ($900 upper unit, $850 lower unit), with tenants up to date on rent
Upstairs unit includes a private balcony; lower unit offers covered porches; each unit has its own in‑unit laundry area
Updates include newer vinyl siding, newer roof, and vinyl windows
Appliances included with the units: range, refrigerator, washer, and dryer
Major mechanical updates include two hot water tanks installed in 2020 and a newer furnace; two furnaces total (one in basement, one for upstairs unit)
Public utilities: public water and public sewer; parking includes a driveway and garage

Overview

This property presents an investment or homeowner opportunity, featuring two units with a total area of 2274 square feet on a 0.17-acre lot. The property is located on a quiet side street in Lorain, OH. The upper unit is currently occupied, while the upstairs tenant will be moving out next month. The property is currently receiving $1,750. Both units feature bright interiors with natural light, updated flooring, and fresh paint. The upper unit includes a private balcony, while the lower unit features covered porches. Each unit has its own in-unit laundry area. All appliances, including the stove, refrigerator, washer, and dryer, are included. Exterior updates include newer vinyl siding, a newer roof, and vinyl windows. Interior updates include newer kitchens and bathrooms. Major mechanical updates include two newer hot water tanks from 2020 and a newer furnace. There are two furnaces, one in the basement and one in the upstairs unit. A spacious backyard with a storage shed provides additional outdoor functionality. The basement includes a laundry connection, currently not in use but offering future value-add potential. The property has previously qualified for Section 8.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Lorain
County: Lorain
State: Ohio
Longitude: -82.171765
Latitude: 41.449217

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For sale
Duplexes
OH
Lorain
44052
508 W 23rd Street

What type of property is this?

Duplex - Updated duplex in Lorain, OH, with strong rental income.

Where is this duplex located?

The property is located at 508 W 23rd Street Lorain, OH.

What is the asking price?

The asking price for this property is $155,000.

What are key features of this property?

This property features: Two‑unit property currently receiving $1,750 total rent ($900 upper unit, $850 lower unit), with tenants up to date on rent; Upstairs unit includes a private balcony; lower unit offers covered porches; each unit has its own in‑unit laundry area; Updates include newer vinyl siding, newer roof, and vinyl windows

508 W 23rd Street, Lorain, OH 44052

MULTI_FAMILY - Lorain, OH

Property Features for 508 W 23rd Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Downtown Lorain Professional Office Building

Neighborhood Grocery Store on Corner

Freestanding Restaurant Property

Downtown Storefront with Rear Garage

Brick Ranch Duplex with Center Garage

Tenant-Occupied Duplex

Downtown Lorain Mixed-Use Opportunity

Duplex with Oversized Two-Car Garage

Lorain Manufacturing/Warehouse Facility For Sale

Duplex and Single-Family Home

Multi-Use Entertainment and Dining Building

Vinyl-Sided Two-Unit Duplex

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