Courtesy of Keller Williams Greater Metropolitan, Kquawan Brown , kquawanbrown@kw.com

428 West Avenue, Elyria, Ohio, 44035

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.

Active

$284,900

Multi-family

4 bds

4 ba

0.19 Acre

MLS

5252372

Built in 1900

Heman Elys Town

3395 (2025)

Disclaimer: The information contained in this listing has not been verified by Keller Williams Greater Metropolitan and should be verified by the buyer.

Information provided by MLSNOW

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ADDRESS & DIRECTIONS

  • Street Address: 428 West Avenue
  • City: Elyria
  • State: Ohio
  • County: Lorain
  • Subdivision: Heman Elys Town
  • Directions:
    Fifth St to West Ave

PROPERTY FEATURES

Amenities

  • Basement

General Information

  • Property Sub-Type Additional : Quadruplex

Heating /Cooling Features

  • Heating : Yes.
  • Heating : Radiant

Rooms Information

  • Rooms Total : 12

Interior Features

  • Basement Description : Unfinished

Parking Features

  • Parking Features :
  • Garage : Yes.
  • Garage Spaces: 4

Construction Features

  • Construction Materials : Brick

Utility Information

  • Water Source : Private
  • Sewer System : PublicSewer

SCHOOLS NEAR 428 West Avenue

  • Courtesy of Keller Williams Greater Metropolitan, Kquawan Brown
  • Property last updated on MLSNOW : 10/12/2026 4:35:02 PM