$168,500

317 West Avenue, Elyria, OH 44035

  • 4 beds |
  • 3 baths |
  • 2,112 sqft
  • Property Icon Triplex
  • Property Year Built Icon Built in 1887
  • Property Lot Size Icon0.31acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $80/sqft
  • Property List Date Icon Listed 19 days ago

Property Description

Turnkey, cash-flowing 3-unit multifamily investment with long-term stability and minimal maintenance. All three units are occupied by reliable tenants with 10+ years of residency, providing consistent income and low turnover. Tenants handle landscaping and minor repairs, reducing owner involvement. Property has been thoughtfully maintained with efficiency upgrades and minimal deferred maintenance. Recent improvements include a fully tuned and serviced boiler with replacement of dated components and new high-efficiency window/portable A/C units for each unit. Unit mix includes two 1-bed/1-bath units and one 2-bed/1-bath unit. Current rents total $1,750 per month with approximate monthly expenses of $500, producing strong net income and an attractive cap rate at asking price. All utilities are on one meter for simplified management. Ideal buy-and-hold opportunity offering immediate cash flow from day one. Don’t miss this solid income-producing asset—contact agent for additional details.

Listing Status:
Active
Data Last Updated:
February 15, 2026 at 7:17AM
Listing Office:
Keller Williams Greater Metropolitan : 216-839-5500
Listing Agent:
Marian Lukach : 216-905-2672
MLS ID:
5183741
  • Basement: Full
  • A/C: Window Unit(s)
  • Heating: Baseboard
  • Parking: ConcretePrivate
  • Roofing: Shingle
  • General: Aluminum Siding2
  • Originating MLS: NOWDD_NORM
  • School District: Elyria CSD - 4706
  • County: Lorain
  • Zoning: WEST AVE FRNT 0052.50 S/L 42806-26-041-000-008
  • Water: Public
  • Sewer: Public Sewer
  • Source: NOWDD_NORM

This listing courtesy of Marian Lukach , Keller Williams Greater Metropolitan

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

M

McKinley Elementary School

620 E River St, Elyria, OH, 44035

Grades KG-5

0.67 miles away

E

Eastern Heights Middle School

528 Garford Ave, Elyria, OH, 44035

Grades 5-8

1.07 miles away

E

Elyria High School

311 6th St, Elyria, OH, 44035

Grades 9-12

0.22 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.