Thursday, November 19, 2020

Historic 22 unit Multifamily/Commercial in Downtown Willoughby, For Sale

Multifamily/ Commercial
Investment
4084-4098 Erie St.
Willoughby, OH 44094
  • Rare Prime Lake County building for Sale. Only the 2nd time in 50 years

  • Historic 22 unit Multifamily/Commercial building located in Downtown Willoughy.
  • 18 Apartments
  • 4 Retail Storefronts

  • Excellent Rental History with Low Vacancy

  • 35,000 +/- Sq.Ft.

  • Situated on a corner lot made up of 5 parcels totaling 0.85 Acres.

  • Large Parking Lot with 56 Spaces

  • Built in 1901, it continues to showcase its historic charm.

  • Located in Downtown Willoughby, a unique walking community, surrounded by over 50 restaurants and shops within a ½ mile. Visit http://downtownwilloughby.org/ for additional information on the area.

  • Nestled on the West side of Lake County, known for its Lakefront Beaches, 55 Parks, Wineries & much more. Public transportation is offered through Laketran with many convenient spots located all across the county. Visit https://www.mylakeoh.com/ for additional information on this remarkable county. 
Offering Summary

Price:$3,300,000
Income: $352,315
Expenses: $90,013
Vacancy: 5% - 17,616
NOI: $244,686
Cap Rate: 7%
Patrick Dowd, Vice President
If you have any questions or would like to schedule a viewing, call or email me.

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