316 W 10th ST Lorain, OH 44052
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Square Footage 2,072 sqft
Price per Sqft $111
Subdivision Chamberlain
MLS Listing ID 5171576
Bedrooms 5
Full Baths 3
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 2,072
Year Built 1923
Annual Tax Amount $1,179
Tax Year 2024
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Triplex
Stories Two
Story Two
Property Description
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.
Location
State OH
County Lorain
Direction South
Rooms
Basement Exterior Entry, Partial, Sump Pump, Unfinished
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features Driveway, On Street
Water Access Desc Public
Roof Type Shingle
Private Pool No
Building
Faces South
Story 2
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Two
Construction Status Updated/Remodeled
Schools
School District Lorain Csd - 4709
Others
Tax ID 02-01-004-113-016
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition Standard
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