4126 E Erie St 11 Unit Apartment Building $2,533,856 CAD ($230,351 CAD/Unit) 7.02% Cap Rate Willoughby, OH 44094

This offering presents a rare opportunity to acquire a fully leased, mixed-use investment property in the heart of Downtown Willoughby's vibrant retail corridor. Positioned within walking distance of popular restaurants, bars, boutiques, and entertainment, the property benefits from exceptional visibility, strong pedestrian traffic, and a location that continues to attract both residents and businesses. Properties of this size, quality, and location rarely become available, particularly with stabilized cash flow and meaningful upside potential.
The asset consists of 11 total units, including two street-level commercial suites and nine residential apartments, creating a well-diversified income stream. The commercial component is anchored by established long-term tenants, providing dependable cash flow, while the residential units maintain strong occupancy and benefit from continued demand in Downtown Willoughby. Current apartment rents remain below market, offering investors a clear path to increasing income over time.
Additional investment highlights include rear tenant parking—a highly desirable and uncommon amenity in Downtown Willoughby—separately metered gas and electric service for all residential units, individually controlled HVAC systems throughout the building, and significant capital improvements, including updated electrical service, a replacement rubber roof, and modern HVAC systems.
With 100% occupancy, stable in-place income, a prime downtown location, and future rental upside, this property offers investors the ideal combination of immediate cash flow, long-term appreciation potential, and durable asset quality.