540 W College Street,Oberlin, OH 44074
Oberlin, OH 44074
Description
Rare investment opportunity in the heart of Oberlin - a town known for its historic charm, vibrant arts culture, and the nationally acclaimed Oberlin College Conservatory, ranked among the top programs in the country. Ideally located minutes from campus, Finney Chapel performances, Tappan Square gatherings, local shops, restaurants, and major highways, this beautifully maintained 11-unit multifamily property combines strong financial performance with long-term tenant appeal. This turnkey asset features a desirable unit mix of one studio, two one-bedroom, and eight two-bedroom apartments, with 10 of 11 units offering recently updated interiors designed to attract quality tenants. Recent capital improvements include a new boiler, two new water heaters, all new windows, keypad entry systems, updated kitchens and bathrooms, upgraded laundry machines, parking lot resurfaced, and new concrete patios were installed. Amenities include secure building entry, well-appointed common areas, revenue-producing onsite laundry, and numbered parking for each unit. The property has maintained an average 97% occupancy over the past 2.5 years, reaching 98% over the last calendar year, supported by stable, long-term tenancy. A 5.25% assumable loan is available. Full financials available upon request. An exceptional opportunity for investors seeking a well-positioned, income-producing asset in one of Northeast Ohio's most distinctive and consistently desirable communities.
Details
| MLS # | 5189597 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1966 |
| Days On Site | 223 |
| Listing Provided By | EXP Realty, LLC. | Joe Vaccaro |
Features
| Zoning | Multi-Family |
|---|---|
| Acreage | 0.37 |
Parking
| Parking Features | Parking Lot |
|---|
Taxes
| Tax Annual Amount | 7769 |
|---|
Area Information
| State | OH |
|---|---|
| County | Lorain |
| City | Oberlin |
| Zip Code | 44074 |
| Community Name | Russia |
| Listing VS Median (in Russia) | |
Price: $950,000 low | high Med: $400,000 On site: 223 low | high Med: 82 | |
Market Activity 44074
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Learn More About This Property
| State | OH |
|---|---|
| County | Lorain |
| City | Oberlin |
| Zip Code | 44074 |
| Community Name | Russia |
| Listing VS Median (in Russia) | |
Price: $950,000 low | high Med: $400,000 On site: 223 low | high Med: 82 | |