5500 Lorain Avenue

5500 Lorain Avenue in Cleveland, OH was first built in 1915 and is 109 years old. Although, the building on the property was most recently renovated and altered in 1942. This has been categorized as a commercial property type. There are a total of 2 floors. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 5500 Lorain Avenue has 3,900 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The basement is 1,950 sqft and has been categorized as a full basement. In total, the area measurement of the land is 5,280 square feet.

Learn more about the property and building on this page. The building type has been coded as 4. The code stands for buildings that have wood or wood and steel frames.. The home has a flat style roof made of composition shingle. Water for the property is sourced from a municipal system. The property is connected to a storm sewage system. So as a homeowner, you won't have to worry about the responsibilities of handling a septic tank but you may need to pay additional fees to have your wastewater disposed in this manner. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with wood control joints. The condition of the building has been evaluated as poor. The exterior walls of the home are made of brick. Walk inside and you'll find flooring throughout the home. Walk into the home itself and you'll find that it is currently being cooled with no air conditioning. As for heating, the home is utilizing a heating system and being fueled with gas. The property was last sold in Jul 14, 2022 for $180,000. That's $30.77 per sqft. Prior to that sales transaction, the property was also sold in Sep 24, 2007 for $80,000. 5500 Lorain Avenue was last assessed in 2022. The total value of the property was assessed at $20,895. Specifically, the land the property is located on was valued at $5,530. While improvements on the property were assessed at a total of $15,365. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $2,084. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly! Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.