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Glasshouse Realty

Glasshouse Realty Group

brandon@brexinconsulting.com +1(937) 949-0006

$ 919,900

Est. payment | -/mo

5 Beds

7 Baths

0.45 Acres Lot

Save

$ 919,900

Est. payment | -/mo

Save

5 Beds

7 Baths

0.45 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID 5190174

Bedrooms 5

Full Baths 4

Half Baths 3

Construction Status Updated/Remodeled,Under Construction

HOA Y/N No

Year Built 1981

Annual Tax Amount $10,916

Tax Year 2025

Lot Size 0.449 Acres

Acres 0.4488

Property Sub-Type Triplex

Property Description

Exceptional mixed-use investment opportunity in the heart of Downtown Willoughby. Situated on a single parcel with ample off-street parking, this unique offering combines a fully leased historic brick triplex, a 7,200-square-foot commercial building, and a custom luxury residential loft, creating multiple income streams and significant upside potential. The front brick triplex is fully occupied and features three updated residential units with strong rental history. Unit 1 is a two-bedroom, one-bath residence with an updated kitchen, updated bath, and in-suite laundry, currently leased for $1,450 per month. Unit 2 is a fully updated one-bedroom, one-bath unit leased for $1,200 per month, while Unit 3 is a fully updated one-bedroom, one-bath unit leased for $1,300 per month. Current gross residential income totals $47,400 annually. The triplex benefits from newer HVAC systems and hot water tanks throughout.The rear commercial building offers approximately 7,200 square feet of flexible space currently occupied by a successful furniture upholstery business. The lower level includes warehouse space, offices, restroom facilities, laundry, and two oversized garage bays. The seller is willing to lease back a portion of the commercial space, providing an opportunity for immediate stabilized commercial income. Additional warehouse and commercial space offers further leasing potential.Above the commercial building is an impressive 1,650-square-foot custom-built loft featuring high-end finishes, an open-concept floor plan, private laundry, and an expansive rooftop deck overlooking Downtown Willoughby. The loft is currently owner-occupied and could generate approximately $2,500 per month ($30,000 annually) in additional rental income. Based on current rents and projected lease-up opportunities, the property offers the potential to generate approximately $135,000 to $141,000 in gross annual income. A rare opportunity to own a versatile mixed-use asset in Downtown Willoughby.

Location

State OH

County Lake

Rooms

Basement Full

Interior

Heating Forced Air, Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features Driveway

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Private Pool No

Building

Sewer Public Sewer

Water Public

Level or Stories Two

Construction Status Updated/Remodeled,Under Construction

Schools

School District Willoughby-Eastlake - 4309

Others

Tax ID 27-B-036-0-00-020-0

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Julie A Marous • Berkshire Hathaway HomeServices Professional Realty • juliemarous@bhhspro.com, 440-479-4681

MORTGAGE CALCULATOR

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

37931 Vine ST Willoughby, OH 44094