USAOHPainesville188-166-188 Mentor Ave
Listing image | Image 1

188-166-188 Mentor Ave, Painesville, OH

Condo

For Sale

Listed price in listed location currency (USD).
$1,534,000

0013

MLS® 5227213

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes $17,828
Days Active 87
Approx. Age 1984
MLS® Number 5227213

Property Address: 188-166-188 Mentor Ave, Painesville, OH, 44077-3232

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional opportunity to acquire a 13-unit multifamily portfolio in one of Lake County’s fastest-improving rental markets. Located at 166-188 Mentor Avenue, this well-positioned asset generates approximately $147, 000 in annual gross rental income, providing investors with immediate cash flow and significant long-term appreciation potential. Situated just minutes from Historic Downtown Painesville, the property benefits from the city’s ongoing transformation and public/private investment initiatives. Downtown Painesville has experienced substantial revitalization through new mixed-use redevelopment, streetscape improvements, infrastructure upgrades, public gathering spaces, and continued investment in local restaurants, retail, and entertainment. The recently completed amphitheater, Victoria Place redevelopment, and continued downtown beautification projects are helping position Painesville as one of Northeast Ohio’s emerging communities for both residents and investors. Residents enjoy convenient access to Downtown Painesville, Lake Erie, Mentor’s retail corridor, Route 2, SR-44, and numerous major employers throughout Lake County. The property’s central location continues to attract a strong tenant base seeking affordable housing with easy access to employment, shopping, dining, and recreation. Whether you’re looking to expand an existing portfolio or acquire a stabilized cash-flowing investment in a market with continued upside, this property offers an outstanding combination of current income, proven occupancy, and future appreciation potential fueled by the ongoing revitalization of Downtown Painesville
MLS® Number5227213
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1984
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatElectric, Gas
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 13, 2026List Date
$1,534,000List Price
  • Commute

Commute

Starting Address
Destination Address
166-188 Mentor Ave, Painesville, OH

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