6037 Lake RD W Active Save Request In-Person Tour Request Virtual Tour
Ashtabula,OH 44004
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Connecticut Western Reserve
MLS Listing ID 5148114
HOA Y/N No
Year Built 2002
Annual Tax Amount $10,686
Tax Year 2023
Lot Size 0.655 Acres
Acres 0.655
Property Sub-Type Apartment
Stories Three Or More
Story Three Or More
Property Description
Turnkey cash flow Investment property with a 10% cap rate and stunning Lake Erie views from every unit! This fully renovated 7-unit apartment building was completely updated in 2024 and comes fully furnished—everything stays, so you start collecting income from day one. The rental mix of short-term, mid-term, and long-term tenants creates multiple high-performing income streams, with long-term units bringing in up to $2,000/month, a recent mid-term lease at $2,950/month, and Airbnb units delivering exceptional returns. In 2024, the property generated $200,074 in gross income with extremely low expenses of just $41,976.70, resulting in a massive $160,098 NOI. Each unit includes a private patio, attached garage, and access to on-site parking, all within minutes of beaches and Geneva-on-the-Lake attractions. Plus, all zoning and legal work is already done if you want to sell units individually as townhomes—offering huge upside potential. Opportunities like this don't last—secure this high-yield lakefront investment today.
Location
State OH
County Ashtabula
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Parking Features Attached,Direct Access,Driveway,Garage,On Site,Parking Lot
Fence Partial
Water Access Desc Public
Roof Type Asphalt
Present Use Multi-Family,Residential,Single Family
Total Parking Spaces 15
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Ashtabula Area Csd - 401
Others
Tax ID 480172000100
Acceptable Financing Cash,Conventional,1031 Exchange,Owner May Carry
Listing Terms Cash,Conventional,1031 Exchange,Owner May Carry
Special Listing Condition Standard