4828 Lorain Ave Cleveland, OH 44102-3376

Property Details for 4828 Lorain Ave

Year built

1920

Construction

WOOD

Lot size

0.12 lot acres

Property size

5,141 SF

Zone code

LR

Property type

Warehouses

APN

002-34-137

APU

234137

Description

This exceptional mixed-use investment opportunity presents a fully occupied apartment building located at 4828 Lorain Ave, Cleveland, OH 44102. The property, with APN 002-34-137, boasts a total square footage of 7,570 and is offered at an asking price of $975,000, translating to $128.80 per square foot. The building underwent a complete renovation in 2022, encompassing all units. All building systems – mechanical, HVAC, electrical, and plumbing – are brand new. Significant capital improvements also include the replacement of all windows and a roof replacement within the past 10 years. A substantial advantage is the presence of a 15-year tax abatement. The property's strategic location benefits from the proximity to two new development projects announced by a local developer, situated directly east and west of the site. This prime location, coupled with the recent renovations and the tax abatement, presents a compelling investment opportunity with strong potential for future appreciation and consistent cash flow. The property is currently 100% occupied, ensuring immediate return on investment. This is a rare chance to acquire a turnkey, high-performing asset in a rapidly developing area of Cleveland.