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Commercial Real Estate for Sale at 1888 E 28th Street in Lorain, OH for $474,900

Listing data last changed 08/18/2025 - 8:14pm
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1888 E 28th Street | Lorain

$474,900 | 0.0 Sq. Ft.

Excellent investment opportunity in Lorain, Ohio\u2014a fully occupied 10-unit apartment building in a high-demand rental market with low property taxes. Each unit is a one-bedroom, one-bath, with many updates already completed, making this a low-maintenance, easy-to-manage asset. There\u0027s additional upside with a currently unused storage area that could generate $50\u2013$100 per month, and a small coin operated laundry room for extra income. The owner currently covers water, sewer, and gas due to the on-site boiler system. With rents significantly below market, there\u0027s immediate potential to increase revenue by $200-$300 per unit on renewals with minimal to no upgrades required. MLSNow 5137926 Directions to property: North of I-90

MLS Listing ID: 
MLSNow 5137926
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$474,900
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Lorain
Address: 
1888 E 28th Street, Lorain, OH 44055
County: 
Lorain
Latitude: 
41.4452760
Longitude: 
-82.1323850
Directions: 
North of I-90
Public Remarks: 
Excellent investment opportunity in Lorain, Ohio\u2014a fully occupied 10-unit apartment building in a high-demand rental market with low property taxes. Each unit is a one-bedroom, one-bath, with many updates already completed, making this a low-maintenance, easy-to-manage asset. There\u0027s additional upside with a currently unused storage area that could generate $50\u2013$100 per month, and a small coin operated laundry room for extra income. The owner currently covers water, sewer, and gas due to the on-site boiler system. With rents significantly below market, there\u0027s immediate potential to increase revenue by $200-$300 per unit on renewals with minimal to no upgrades required.
Community Information
School District: 
Lorain CSD - 4709
Subdivision: 
Sheffield Land \u0026 Improv C
Building Details
Details about the building on a property.
Year Built: 
1925
Living Area: 
0.0
Construction
Roof: 
Flat
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Hot Water,Steam
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.29
Lot Size (Area): 
0.29
Lot Features
Parking Type: 
On Site,Paved
Public Record
Parcel Number: 
03-00-095-101-022
Annual Tax: 
$3,382.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Russell Real Estate Services

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