317 West Ave Elyria, OH 44035
Estimated payment $981/month
About This Home
Turnkey, cash-flowing 3-unit multifamily investment with long-term stability and minimal maintenance. All three units are occupied by reliable tenants with 10+ years of residency, providing consistent income and low turnover. Tenants handle landscaping and minor repairs, reducing owner involvement. Property has been thoughtfully maintained with efficiency upgrades and minimal deferred maintenance. Recent improvements include a fully tuned and serviced boiler with replacement of dated components and new high-efficiency window/portable A/C units for each unit. Unit mix includes two 1-bed/1-bath units and one 2-bed/1-bath unit. Current rents total $1,750 per month with approximate monthly expenses of $500, producing strong net income and an attractive cap rate at asking price. All utilities are on one meter for simplified management. Ideal buy-and-hold opportunity offering immediate cash flow from day one. Don’t miss this solid income-producing asset—contact agent for additional details.
Listing Agent
Keller Williams Greater Metropolitan Brokerage Email: mariog.lukach@gmail.com, 216-905-2672 License #2021004099 Listed on: 01/27/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,006
Year Built
- Built in 1887
Lot Details
- 0.31 Acre Lot
Parking
- Private Parking
Home Design
- Aluminum Siding
Interior Spaces
- 2,112 Sq Ft Home
- 2-Story Property
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Full Bathrooms
Utilities
- Window Unit Cooling System
- Baseboard Heating
Community Details
- Village/Elyria Subdivision
Listing and Financial Details
- Assessor Parcel Number 06-26-041-000-008
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,984 | $40,576 | $9,275 | $31,301 |
| 2023 | $1,134 | $20,468 | $5,376 | $15,092 |
| 2022 | $1,130 | $20,468 | $5,376 | $15,092 |
| 2021 | $1,133 | $20,468 | $5,376 | $15,092 |
| 2020 | $1,248 | $18,760 | $4,930 | $13,830 |
| 2019 | $1,160 | $18,760 | $4,930 | $13,830 |
| 2018 | $1,162 | $18,760 | $4,930 | $13,830 |
| 2017 | $1,122 | $17,220 | $4,640 | $12,580 |
| 2016 | $1,107 | $17,220 | $4,640 | $12,580 |
| 2015 | $1,039 | $17,220 | $4,640 | $12,580 |
| 2014 | $1,027 | $17,220 | $4,640 | $12,580 |
| 2013 | $1,018 | $17,220 | $4,640 | $12,580 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/18/2026 02/18/26 | Price Changed | $158,500 | -5.9% | $75 / Sq Ft | |
| 01/27/2026 01/27/26 | For Sale | $168,500 | +180.8% | $80 / Sq Ft | |
| 07/20/2023 07/20/23 | Sold | $60,000 | -24.9% | $28 / Sq Ft | View Prior Sale |
| 05/18/2023 05/18/23 | Pending | -- | -- | -- | |
| 05/11/2023 05/11/23 | Price Changed | $79,900 | -11.1% | $38 / Sq Ft | |
| 05/09/2023 05/09/23 | For Sale | $89,900 | 0.0% | $43 / Sq Ft | |
| 05/03/2023 05/03/23 | Pending | -- | -- | -- | |
| 04/28/2023 04/28/23 | Price Changed | $89,900 | -10.0% | $43 / Sq Ft | |
| 04/06/2023 04/06/23 | For Sale | $99,900 | +299.6% | $47 / Sq Ft | |
| 11/20/2017 11/20/17 | Sold | $25,000 | -28.6% | $12 / Sq Ft | View Prior Sale |
| 11/13/2017 11/13/17 | Pending | -- | -- | -- | |
| 10/13/2017 10/13/17 | Price Changed | $35,000 | -22.0% | $17 / Sq Ft | |
| 06/26/2017 06/26/17 | Price Changed | $44,900 | -9.3% | $21 / Sq Ft | |
| 04/14/2017 04/14/17 | For Sale | $49,500 | -- | $23 / Sq Ft |
Source: MLS Now
MLS Number: 5183741
APN: 06-26-041-000-008
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