428 West Ave Elyria, OH 44035
Elyria AreaEstimated payment $1,907/month
Highlights
- 1 Car Attached Garage
- Hot Water Heating System
- Heating System Uses Steam
About This Home
Excellent opportunity to add a cash-flowing multifamily asset to your investment portfolio. This well-maintained brick four-unit building features three occupied units and one vacant unit, offering immediate income with additional upside through lease-up or rent growth. Current rents include Unit 1 at $850/month (lease expires 4/30/2027), Unit 2 at $775/month (lease expires 4/30/2027), and Unit 3 at $880/month through the Lorain Metropolitan Housing Authority ($582 subsidy plus $298 tenant portion) with lease expiring 8/31/2026. Unit 4 at $1100/month (lease expires 10/31/2026 then converts to month to month) The property features a durable brick exterior and numerous updates, including a new boiler system, helping reduce future capital expenditures. Conveniently located near shopping, dining, schools, and major highways, this property offers stable tenancy and strong rental demand. Whether you're a seasoned investor looking for a performing asset or seeking to expand your multifamily portfolio, 428 West Ave presents a compelling opportunity with immediate income and value-add potential.
Listing Agent
Keller Williams Greater Metropolitan Brokerage Email: kquawanbrown@kw.com, 216-272-4616 License #2016004557 Listed on: 05/12/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,395
Year Built
- Built in 1900
Lot Details
- 8,276 Sq Ft Lot
Parking
- 1 Car Attached Garage
- Driveway
Home Design
- Quadruplex
- Brick Exterior Construction
- Asphalt Roof
Interior Spaces
- 2-Story Property
- Unfinished Basement
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Full Bathrooms
Utilities
- No Cooling
- Hot Water Heating System
- Heating System Uses Steam
Community Details
- Heman Elys Town Subdivision
Listing and Financial Details
- Assessor Parcel Number 06-26-045-000-003
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $3,395 | $68,656 | $9,800 | $58,856 |
| 2023 | $1,636 | $29,316 | $2,842 | $26,474 |
| 2022 | $1,631 | $29,316 | $2,842 | $26,474 |
| 2021 | $1,635 | $29,316 | $2,842 | $26,474 |
| 2020 | $1,685 | $26,870 | $2,600 | $24,270 |
| 2019 | $1,675 | $26,870 | $2,600 | $24,270 |
| 2018 | $1,808 | $26,870 | $2,600 | $24,270 |
| 2017 | $1,938 | $29,750 | $4,900 | $24,850 |
| 2016 | $1,913 | $29,750 | $4,900 | $24,850 |
| 2015 | $1,795 | $29,750 | $4,900 | $24,850 |
| 2014 | $1,774 | $29,750 | $4,900 | $24,850 |
| 2013 | $1,759 | $29,750 | $4,900 | $24,850 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/11/2026 08/11/26 | Price Changed | $294,900 | -1.7% | $61 / Sq Ft | |
| 05/12/2026 05/12/26 | For Sale | $299,900 | +132.5% | $62 / Sq Ft | |
| 12/18/2021 12/18/21 | Sold | $129,000 | -13.4% | $28 / Sq Ft | View Prior Sale |
| 10/26/2021 10/26/21 | Pending | -- | -- | -- | |
| 10/17/2021 10/17/21 | For Sale | $149,000 | -- | $33 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $129,000 | None Available | |
| Quit Claim Deed | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $169,500 | New Conventional | |
| Closed | $103,200 | New Conventional |
Source: MLS Now
MLS Number: 5209212
APN: 06-26-045-000-003
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