About This Home

This 0-bedroom, 0-bathroom commercial at 7221 Lorain Avenue in Cleveland, OH is listed for $425,000. Built in 1924, on a 0.21 acres lot.

Key Features

  • Built in 1924
  • 0.21 acre lot
  • 10 parking spaces

Property Details

10 spaces
1924
Listing Description

Excellent investment opportunity to own a fully occupied, six-unit mixed-use property located on Lorain Avenue on Cleveland's west side, just minutes from downtown. This well-maintained building features three residential apartments and three commercial storefronts, providing a combination of residential and commercial rental income.

All six spaces are currently occupied, generating $4,550 in monthly rental income and $54,600 in annual gross rental income. The residential apartments feature updated bathrooms and convenient in-unit laundry, while the property also offers a large fenced rear parking area.

With established tenants, multiple income streams, and potential for future rental income growth, this property presents an excellent opportunity for investors looking to expand their real estate portfolio. Proof of funds or pre-approval may be required prior to scheduling. For additional information or to schedule a private showing, call or text Peter Spirollari at his number.

Monthly Cost Estimate

$2,273/mo

20% down · 6.5% · 30 years

Principal$307
Interest$1,842
Insurance$124

Estimates only. Actual payments may vary.

Location

7221 Lorain Avenue

Cleveland, OH 44102

Hoyt

Property Details

Parking

Alley

Heating

Forced Air

Questions & Answers

This 0-bedroom, 0-bathroom commercial at 7221 Lorain Avenue is listed at $425,000. The estimated monthly payment is $2,273 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1924, 0.21 acre lot, 10 parking spaces.

This property is listed by Peter Spirollari.

PS

Peter Spirollari

License 2005002337

Agent at Northeast Ohio Realty LLC

Listed by Northeast Ohio Realty LLC · Broker phone: (440) 449-9100 · Broker website

MLS# 5255565· Source: MLS Now· 3 days on PropertySimple

Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

7221 Lorain Avenue, Cleveland, OH 44102

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