39 Nelson St Painesville, OH 44077

Property Details for 39 Nelson St

Year built

1910

Lot size

0.22 lot acres

Property type

Apartment buildings

Description

This meticulously maintained five-unit Victorian apartment building presents a compelling investment opportunity in Painesville, OH. Situated on a 0.22-acre lot at 39 Nelson Street, this property boasts a blend of classic charm and modern updates. The building comprises three units on the main level and two on the upper level, offering a diverse range of living spaces. Three units underwent complete renovations within the last year, while two others received updates within the past five years. This ensures consistent, high-quality rental income. The property includes a detached two-car garage, a valuable amenity for tenants. Both the building and the garage feature durable vinyl siding. All windows have been updated, and the basement incorporates modern glass block for enhanced light and insulation. Significant improvements have been made to the plumbing and electrical systems throughout the building, ensuring efficiency and reliability. The roofs are relatively new, ranging from new to ten years old, minimizing maintenance concerns. Heating is provided by efficient gas-powered hot water systems. All existing appliances, including stoves and refrigerators, are included in the sale. The property benefits from dual residential and commercial zoning, offering flexibility for future development or expansion. This turnkey investment property is priced at $369,900 and offers a strong return on investment.