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Commercial Real Estate for Sale at 2851 Oakwood Avenue in Lorain, OH for $309,000

Listing data last changed 10/30/2025 - 9:09pm
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2851 Oakwood Avenue | Lorain

$309,000 | 0.0 Sq. Ft.

Occupied and cash flowing 6 unit apartment building! This fully occupied 6 unit property is ready for the buyer looking to take advantage of a cash flowing, stabilized asset. The 6 units are grossing $4,125 currently, well over the 1% rule. The unit mix consists of (1) studio unit, (3) one bedroom units, and (2) two bedroom units. Majority of the units have been moderately updated including vinyl plank flooring, new paint, appliances, etc. Walk into stable cashflow, or raise rents to proforma / section 8 standards and get this property grossing over $4,500 per month! The owner pays water/sewer as well as gas for the hot water tanks and landscaping. Tenants are responsible for their own electricity. MLSNow 5167228 Directions to property: On the corner of E 29th and Oakwood Ave

MLS Listing ID: 
MLSNow 5167228
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$309,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Lorain
Address: 
2851 Oakwood Avenue, Lorain, OH 44055
County: 
Lorain
Latitude: 
41.4449890
Longitude: 
-82.1236040
Directions: 
On the corner of E 29th and Oakwood Ave
Public Remarks: 
Occupied and cash flowing 6 unit apartment building! This fully occupied 6 unit property is ready for the buyer looking to take advantage of a cash flowing, stabilized asset. The 6 units are grossing $4,125 currently, well over the 1% rule. The unit mix consists of (1) studio unit, (3) one bedroom units, and (2) two bedroom units. Majority of the units have been moderately updated including vinyl plank flooring, new paint, appliances, etc. Walk into stable cashflow, or raise rents to proforma / section 8 standards and get this property grossing over $4,500 per month! The owner pays water/sewer as well as gas for the hot water tanks and landscaping. Tenants are responsible for their own electricity.
Community Information
School District: 
Lorain CSD - 4709
Subdivision: 
Sheffield Land Co
Building Details
Details about the building on a property.
Year Built: 
1900
Living Area: 
0.0
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Baseboard
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.14
Lot Size (Area): 
0.14
Public Record
Parcel Number: 
03-00-094-104-001
Annual Tax: 
$2,488.25
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Key Realty

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