- Listing Type: Sale
- Primary Use: Multi-Family
- Heat: Boiler/Hot Water System
- Parcel Number: 15C0030000210
- Sub Market: Lake (Mentor)/Ashtabula Counties
157 Mentor Avenue is a one-of-a-kind historic renovation, preserving the 100+ year old character and quality while providing its tenants with fully modernized apartments in a walkable and desirable downtown district of Painesville, Ohio. Originally constructed in 1910, this 2-story, 7,500 SF 8-unit property features private parking for every unit, high ceilings, modern kitchens, massive windows, in-unit washer/dryer for every unit, and efficient floor plans that have proven to be highly desirable for residents. The property has maintained 90%+ occupancy since its renovation in 2011. A new owner will have very little to do in this property, as the plumbing, electrical, gas lines, windows, hardwood floors, and HVAC units were all part of the full gut renovation. Current ownership painstakingly preserved the historic charm of this property. Residents are drawn to the incredibly detailed soffits, the circle head windows, chandelier molding, and preserved original stairway banister, and so much more. Truly a one-of-a-kind opportunity for a turnkey stabilized investment property with rent growth upside in a proven market.
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