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1708 Graylock Street

Lancaster, OH 43130
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Bed --

Bed

Bath 0

Bath

Acres0.15

Acre(Lot)

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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $400,000

AD Id : 87896421

MLS Id : 226025606

Lot Size : 0.15 Acre

Year Built : 1994

County : Fairfield

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Feature Features

  • Heating & Cooling

    Has Heating: Yes Heating: Heat Pump Has Cooling: Yes Cooling: Central Air

  • Building Information

    Year Built: 1994 Construction Materials: Vinyl Siding Private Pool: No

  • Lot Information

    Main Square Feet: 0.15 Lot Size Acres: 0.15 Lot Size Square Feet: 6534

  • Listing Price Information

    Listing Price: $400000 FHA, Conventional

  • Tax Information

    Parcel Number: 05-31085-400 Tax Year: 2025 Annual Tax: $3354

  • Parking Information

    Parking Total: 8 No Garage

  • Utility Information

    Water Available, Sewer Available, Electricity Available
  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
8 1st Street, Lancaster, OH, 43130 $98,500 2 1 950 950 SqFt
2480 W Point Road, Lancaster, OH, 43130 $799,999 3 2 3,173 3,173 SqFt
2339 Pumpkinvine Road, Lancaster, OH, 43130 $450,000 5 2 2,018 2,018 SqFt
6711 Lancaster New Lexi.., Lancaster, OH, 43130 $1,000,050 5 5 4,696 4,696 SqFt
5781 Cincinnati Zanesvi.., Lancaster, OH, 43130 $269,900 4 2 1,290 1,290 SqFt
5524 Borah Hill Road, Lancaster, OH, 43130 $319,900 3 2 1,144 1,144 SqFt
5465 Cincinnati Zanesvi.., Lancaster, OH, 43130 $340,000 3 2 1,830 1,830 SqFt
930 Lake Road, Lancaster, OH, 43130 $299,900 3 1 1,164 1,164 SqFt
3270 Chicken Coop Hill .., Lancaster, OH, 43130 $314,900 3 1 1,650 1,650 SqFt
5060 Wheeling Road, Lancaster, OH, 43130 $400,000 4 2 2,162 2,162 SqFt

The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Columbus REALTORS®. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Columbus REALTORS® does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Information deemed reliable but not guaranteed. Copyright © 2026 Columbus REALTORS®. All rights reserved.

ByOwner last updated this listing 07/19/2026 @ 00:10

MLS: 226025606 LISTED BY: Jeffrey Messmer, Keller Williams Consultants 614-932-2000 SOURCE: Columbus and Central Ohio Regional MLS

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