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Verktyg
Size
Financial
$1,999,000
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Listing Details
Lägenhet
Fastighetstyp
1965
Byggt år
7052697
Webb-ID
4361279
MLS-ID
878
Days Posted
Beskrivning
1833 E 31st Street,
Lorain,
OH
44055
Lorain, OH 44055
The Lowell Apartments is a 36-unit apartment complex that consists of 3 beautiful brick buildings that have been impeccably maintained and updated with modern finishes by the current owner. Unit mix consisting of (12) 2-bed/1-bath and (24) 1-bed/1-bath apartments. This property has a Housing Assistance Payment (HAP) contract directly with The United States Department of Housing and Urban Development. This isn't just a few Section 8 units with a local municipal organization like CMHA or LMHA, THIS IS HUD and because of that, has many benefits that come along with it. Benefits include: being well insulated against market cycles, annual reviews for automatic rent increases and tenant placements focus on low income housing so it's easy to maintain full occupancy with an extensive waiting list ready to fill any vacancies that may come up. It's important to note that there is a transfer process with HUD, and HUD experience is preferred but not required. Low-risk investment in this current unpredictable market cycle as rent is paid monthly by the Federal Government. The property comes with a large and spacious parking lot situated behind the buildings that is in great condition. In close to multiple shopping centers, parks, less than 25 minutes to to 3 different colleges including Lorain Community College, Cuyahoga Community College & Oberlin College and is has easy freeway access making this property attractive to tenants. See supplements for OM.
This is an Pending listing.
Broker Office Phone Number: 440-526-9400
Copyright © 2023MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
This is an Pending listing.
Broker Office Phone Number: 440-526-9400
Copyright © 2023MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Prishistorik
date | price | variance | type |
---|---|---|---|
11/19/2022 | $1,999,000 | - | Kontrakt |
Listing By: Russell Real Estate Services via Data Source: MLS Now
noteringsagent: Tal Tamir