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2833 Seneca Ave - Seneca Studios 15 Unit Apartment Building Offered at $961,097 CAD Lorain, OH 44055
Investment Highlights
- trong In-Place Cash Flow — 15 fully rented studio units generating approximately $10,500/month in gross rental income with operational upside potentia
- Affordable Workforce Housing Demand — Efficient studio layout and attainable rental rates position the property well within the growing Lorain rental
- Well-Maintained Multifamily Asset — Solid 3-story building in good condition with stable tenancy and limited immediate capital improvement needs.
Executive Summary
Located at 2833 Seneca Ave, this well-maintained 15-unit multifamily property presents an exceptional investment opportunity in a strong rental market. Comprised entirely of studio apartments, the asset offers stable in-place income with straightforward management and consistent tenant demand.
The property is currently generating approximately $10,500 per month in gross rental income, with units averaging $700 per month. The building has been maintained in good condition, minimizing immediate capital expenditure needs and providing investors with a turnkey opportunity.
With professional management expenses estimated at just 10%, the property offers attractive operational efficiency and strong cash flow potential. This asset is ideal for investors seeking dependable income, long-term appreciation, and a scalable addition to their multifamily portfolio.
The property is currently generating approximately $10,500 per month in gross rental income, with units averaging $700 per month. The building has been maintained in good condition, minimizing immediate capital expenditure needs and providing investors with a turnkey opportunity.
With professional management expenses estimated at just 10%, the property offers attractive operational efficiency and strong cash flow potential. This asset is ideal for investors seeking dependable income, long-term appreciation, and a scalable addition to their multifamily portfolio.
Property Facts
| Price | $961,097 CAD | Property Type | Multifamily |
| Price Per Unit | $64,073 CAD | Building Size | 10,000 SF |
| Sale Type | Investment | No. Stories | 3 |
| No. Units | 15 | Year Built | 1960 |
| Price | $961,097 CAD |
| Price Per Unit | $64,073 CAD |
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Building Size | 10,000 SF |
| No. Stories | 3 |
| Year Built | 1960 |
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Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-00-095-108-027 | Improvements Assessment | $82,554 CAD |
| Land Assessment | $7,573 CAD | Total Assessment | $90,128 CAD |
Property Taxes
Parcel Number
03-00-095-108-027
Land Assessment
$7,573 CAD
Improvements Assessment
$82,554 CAD
Total Assessment
$90,128 CAD
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2833 Seneca Ave - Seneca Studios
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