317 West Avenue, Elyria, OH 44035

• 4 beds |
• 3 baths |
• 2,112 sqft

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

Interior

• Basement: Full
• A/C: Window Unit(s)
• Heating: Baseboard

Exterior

• Parking: ConcretePrivate

Construction

• Roofing: Shingle
• General: Aluminum Siding2

Location

• Originating MLS: NOWDD_NORM
• School District: Elyria CSD - 4706
• County: Lorain

Lot

• Zoning: WEST AVE FRNT 0052.50 S/L 42806-26-041-000-008

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD_NORM