37931 Vine ST, Willoughby Hills, OH 44094
37931 Vine ST, Willoughby Hills, OH 44094
37931 Vine ST, Willoughby Hills, OH 44094
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$995,000
Est. payment /mo
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5 Beds
7 Baths
0.45 Acres Lot
Active

37931 Vine ST Willoughby Hills, OH 44094

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James Duncan

James Duncan

+1(330) 606-9212

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision Merchants Park

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. This historically maintained brick triplex combined with a 7,200 square foot commercial building offers stabilized residential income, flexible commercial space, and a custom-built luxury residential loft all situated on one parcel with ample off-street parking.The front brick triplex is fully leased and features three updated units with rental history. Unit 1 offers two bedrooms, one bath, an updated kitchen and bath, and in-suite laundry, currently rented for $1,450 per month. Unit 2 is a fully updated one-bedroom, one-bath unit rented for $1,200 per month. Unit 3 is a fully updated one-bedroom, one-bath unit rented for $1,300 per month. Current gross residential income is $3,950 per month, or $47,400 annually. All new HVAC systems and hot water tanks. The rear 7,200 square foot building offers outstanding flexibility. The lower level is currently operating as a furniture upholstery business and includes warehouse space, a private office, gym area, two oversized garage areas with doors, a bathroom, and laundry. Seller would prefer to lease back the lower-level commercial space, presenting the opportunity for immediate stabilized commercial income. Above the commercial space is a stunning 1,650 square foot custom residential loft featuring high-end finishes, an open-concept layout, laundry, and a spacious rooftop deck overlooking downtown Willoughby. This property is ideal for investors seeking diversified income, an owner-operator looking to live above their business, or a buyer seeking long-term value in one of Lake County's most vibrant and walkable downtown districts. A rare opportunity to own a fully occupied mixed-use asset in a premier location.

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

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James Duncan

James Duncan

Agent | License ID: 449204

+1(330) 606-9212

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37931 Vine ST