# 1505 Herbert Drive, Lorain, OH 44053

> **TL;DR:** multi-family, $699,000, built 1973.
> A/C. Est. $3,029/mo. Listed 35 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $699,000 |
| Year Built | 1973 |
| Lot Size | 19,166 sqft (0.44 acres) |
| Property Type | Multi-Family (Apartment) |
| Status | For Sale |
| Days on Market | 35 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $3,029 |
| **Total** | **$3,029** |

## Key Amenities

- A/C

## Property Highlights

- Built in 1973
- 0.44 acre lot

## Description

### Agent Description
This newly renovated 8 suite apartment building is fully occupied with an excellent rent roll, all at or near $850/month. Each unit is a 1 bed, 1 bath and all are quite spacious! Most units have had flooring, kitchen countertops and backsplash updates, some new cabinets, new baths and fresh paint. The roof was just replaced, as well. A huge money saver maintenance-wise, these units have electric heat in the ceilings, so no boilers or furnaces to worry about and there is 1 community washer/dryer that is coin operated, generating roughly $125/month. These apartment buildings are tucked in amongst other buildings like it and there is plenty of parking for tenants in the rear of the building. This building is a dream for a landlord and at a 8.5% cap rate, a great income earner.

## Location

- **Address:** 1505 Herbert Drive, Lorain, OH 44053
- **County:** Lorain
- **Neighborhood:** Ashwood Acres Sub #1
- **Coordinates:** 41.419337, -82.192127
- **Google Maps:** https://www.google.com/maps?q=41.419337,-82.192127

## Listing Agent

- **Name:** Julie L Hogston
- **Brokerage:** Real of Ohio
- **Phone:** 4408299268
- **Email:** juliesellshomes1@gmail.com

## Primary Photo

![1505 Herbert Drive - Primary Photo](http://lh.rdcpix.com/62636e3fdbedfcbbcfd0f872a2fb2f61l-f4276018548r.jpg)

*20 total photos available on [listing page](https://www.propertysimple.com/listing/1505-herbert-drive-lorain-oh-44053-5204706)*

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**MLS#:** 5204706 | **Updated:** 2026-06-17
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/1505-herbert-drive-lorain-oh-44053-5204706)

---

## Structured Data

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