45
See all 45 photos
$575,000
Est. payment /mo
4,704 Sqft Lot
New
12224 Lorain AVE Cleveland, OH 44111
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5248355
HOA Y/N No
Year Built 1926
Annual Tax Amount $7,754
Tax Year 2025
Lot Size 4,704 Sqft
Acres 0.108
Property Sub-Type Mixed Use
Property Description
Great investment opportunity with this fully renovated mixed-use property at 12224 Lorain Avenue! The building features a street-level storefront and three walk-up apartments: two 3-bedroom units and one 2-bedroom unit. The storefront and all three apartments have been remodeled. Improvements include a new flat roof, new windows, separate new furnaces, all new kitchens and baths, flooring, and lighting fixtures. The property also offers a full basement, washer and dryer, a two-car garage, additional rear parking, and a storage room with a new garage-style door.
One of the 3 bedrooms is currently rented for $1500. The other units are vacant and ready to be leased. Nothing to do or improve; everything has been done and is ready!
PRO FORMA RENTS: Storefront: $1,500–$2,000/month; two 3-bedroom apartments: $1,500/month each; 2-bedroom apartment: $1,350–$1,400/month. Total projected gross rent: $5,850–$6,400/month ($70,200–$76,800/year). Expenses estimated at $21000/year. Pro forma rents are estimates and are not guaranteed. 2025 PROPERTY TAXES: $7,754/year. Owner pays all utilities.
One of the 3 bedrooms is currently rented for $1500. The other units are vacant and ready to be leased. Nothing to do or improve; everything has been done and is ready!
PRO FORMA RENTS: Storefront: $1,500–$2,000/month; two 3-bedroom apartments: $1,500/month each; 2-bedroom apartment: $1,350–$1,400/month. Total projected gross rent: $5,850–$6,400/month ($70,200–$76,800/year). Expenses estimated at $21000/year. Pro forma rents are estimates and are not guaranteed. 2025 PROPERTY TAXES: $7,754/year. Owner pays all utilities.
Location
State OH
County Cuyahoga
Rooms
Basement Full, Concrete, Unfinished
Interior
Heating Forced Air
Cooling Ceiling Fan(s), Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Detached, Garage, Paved, Parking Lot
Water Access Desc Public
Roof Type Flat
Garage true
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 021-24-024
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Listed by Jamie Samaha • Howard Hanna • jamiesamaha@howardhanna.com, 216-925-2063
Nearby Locations
GET MORE INFORMATION