1708 Graylock Street, Lancaster, OH 43130

Property Description

Whether you're looking to expand your portfolio or complete a 1031 exchange, this well-maintained four-unit property offers the combination every investor is searching for... stable occupancy today with room to increase tomorrow's returns. Each of the four units features 900 square feet of living space with two bedrooms, one bathroom, and the convenience of an in-unit washer and dryer. Tenants enjoy separately metered electric and water service while paying all utilities, helping keep operating expenses low and predictable. The property has been consistently well maintained, with many major mechanical updates completed within the past five years. Even more impressive, the building has remained fully occupied with a waiting list whenever a unit becomes available, demonstrating strong rental demand in the area. Current rents are $800 per month per unit, with all leases converting to month-to-month at the end of August 2026. For investors seeking value-add potential, comparable two-bedroom units in the area are leasing between $1,000 and $1,200 per month, providing an opportunity to increase income over time. Whether you choose to maintain the property's outstanding occupancy history or implement a strategic rent growth plan, this is a rare opportunity to acquire a professionally maintained asset with proven performance and significant upside. Showings will be allowed within 48 hours of accepted offer.