$230,000

316 W 10th Street, Lorain, OH 44052

  • 5 beds |
  • 3 baths |
  • 2,072 sqft
  • Property Icon Triplex
  • Property Year Built Icon Built in 1923
  • Property Lot Size Icon7,405sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $111/sqft
  • Property List Date Icon Listed 23 days ago

Property Description

Discover this beautifully updated triplex in the heart of Lorain — a standout opportunity for both house hackers and investors. Located at 316 W 10th St, the property features two spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The 1-bedroom unit is currently rented, while the two larger units are vacant and move-in ready, giving a new owner the flexibility to place tenants immediately or occupy a unit themselves. When fully stabilized, projected gross rents total approximately $2,700 per month - based on an evaluation of comparable rents in the area - offering an attractive estimated 9.9% cap rate. This triplex has undergone extensive updates, including nearly all new windows (2025), a roof replaced around 2021, fresh interior and exterior paint, new vinyl siding (2025), and new flooring throughout. The bathrooms have been updated with tubs, toilets, vanities, and the exterior features fresh landscaping for added curb appeal. Additionally, the property includes new furnaces (2022) and hot water tanks (2023), ensuring low-maintenance ownership for years to come. Additionally, extra paint and flooring are being left on-site for the new owner in case future repairs or touch-ups are needed. The owner currently covers water and sewer, while tenants handle the remaining utilities. With significant improvements already completed and strong income potential once fully rented, 316 W 10th St is a rare opportunity at this price point. It’s an ideal choice for investors seeking reliable cash flow or buyers looking to live in one unit while generating income from the rest.

Listing Status:
Pending
Listing Office:
Russell Real Estate Services : 440-282-4444
Listing Agent:
Christina L Coughlin : 440-742-4644
MLS ID:
5171576
  • Basement: Exterior EntryPartialSump PumpUnfinished
  • A/C: None
  • Heating: Forced AirGas
  • Parking: DrivewayOn Street
  • Roofing: Shingle
  • General: Vinyl Siding2Block
  • Originating MLS: NOWDD_NORM
  • School District: Lorain CSD - 4709
  • County: Lorain
  • Zoning: CHAM FRNT 0050.00 DPTH 0154.0002-01-004-113-016
  • Water: Public
  • Sewer: Public Sewer
  • Source: NOWDD_NORM

This listing courtesy of Christina L Coughlin, Russell Real Estate Services

Monthly Payment

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

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Location

Schools Nearby

A

Admiral King Elementary School

720 Washington Ave, Lorain, OH, 44052

Grades PK-5

0.29 miles away

G

General Johnnie Wilson Middle School

2700 Washington Ave, Lorain, OH, 44052

Grades 6-8

1.08 miles away

N

New Beginnings

307 W 7th St, Lorain, OH, 44052

Grades 9-12

0.18 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.