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Lowell Apartments - Assumable Debt 1833-1845 E 31st St 36 Unit Apartment Building $1,920,100 CAD ($53,336 CAD/Unit) Lorain, OH 44055
Executive Summary
36 Unit Multi Family in Lorain OH with attractive assumable debt.
Originally Developed under HUD §236(j)(1) Mortgage Program in 1971
72 % Project-Based Section 8; 5-Year Option 4 HAP Contract renewed in 2025 for an additional 5 years.
Located in an Opportunity Zone & Qualified Census Tract
Recently Renovated in 2019
Contact Nick Burton - Burton@LegacyWealthHoldings.Com for any questions or to submit an offer.
Originally Developed under HUD §236(j)(1) Mortgage Program in 1971
72 % Project-Based Section 8; 5-Year Option 4 HAP Contract renewed in 2025 for an additional 5 years.
Located in an Opportunity Zone & Qualified Census Tract
Recently Renovated in 2019
Contact Nick Burton - Burton@LegacyWealthHoldings.Com for any questions or to submit an offer.
Property Facts
| Price | $1,920,100 CAD | Lot Size | 1.09 AC |
| Price Per Unit | $53,336 CAD | Building Size | 16,968 SF |
| Sale Type | Investment | Average Occupancy | 90% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2019 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R-1 - Residential | ||
| Price | $1,920,100 CAD |
| Price Per Unit | $53,336 CAD |
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.09 AC |
| Building Size | 16,968 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1970/2019 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-1 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 700 |
| 2+1 | 12 | - | 900 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 03-00-095-103-022 | Improvements Assessment | $556,814 CAD |
| Land Assessment | $47,917 CAD | Total Assessment | $604,731 CAD |
Property Taxes
Parcel Number
03-00-095-103-022
Land Assessment
$47,917 CAD
Improvements Assessment
$556,814 CAD
Total Assessment
$604,731 CAD
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Lowell Apartments - Assumable Debt | 1833-1845 E 31st St
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