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508 W 23rd Street, 
Lorain, OH 44052

$155,000


4

Beds


2

Baths


2,274

Sq Ft


Multi-Family


Virtual Tour

Pending

Listed by

Angie Lopez

Keller Williams Citywide

440-892-2211

Last updated:

May 15, 2026, 07:23 AM

MLS#

5195958

Source:

OH NORMLS

About This Home

508 W 23rd Street

Excellent income-producing investment opportunity OR homeowner opportunity. The upstairs tenant will be moving out next month. The property currently is receiving $1,750. The home features two units with strong rent: the upper unit is currently occupied paying $900 up-to date with rent, while the lower unit is occupied by a tenant and also up to date on rent $850. And ALL appliances will stay with the unit: including stove, refrigerator, washer, and dryer. The exterior has been updated with newer vinyl siding, newer roof, and vinyl windows, enhancing both durability and curb appeal. Inside you'll find newer flooring throughout, newer kitchens, and newer bathrooms. Major mechanical updates include two newer hot water tanks (2020) and a newer furnace, offering added peace of mind. There are 2 furnaces, one is in the basement and the second furnace is in the upstairs unit. Each unit offers a bright and inviting interior with abundant natural light, complemented by some updated flooring and fresh paint. The upper unit includes a private balcony, while the lower unit features covered porches. A spacious backyard with a storage shed provides additional outdoor functionality. With each unit having in-unit laundry area. The basement includes a laundry connection, currently not in use but offering future value-add potential. Situated on a quiet side street, the property has previously qualified for Section 8. Property is easy to show, call your realtor to schedule.

Home Facts

Multi-Family

2 Baths

4 Bedrooms

Built in 1900

Price Summary

155,000

$68 per Sq. Ft.

MLS #:

5195958

Last Updated:

May 15, 2026, 07:23 AM

Added:

1 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

2,274 Sq. Ft.


Structure

Structure

Building Area:

2,274 Sq. Ft.

Year Built:

1900


Lot

Lot Size (Sq. Ft):

7,405


Finances & Disclosures

Finances

Price:

$155,000

Price per Sq. Ft:

$68 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.