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6037 Lake Road W, Ashtabula, OH 44004

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For Sale

$1,600,000

0.65 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 0.7 acres
    Lot size

  • 21-30 Years Old
    Age

Explore this Property

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.
MLS# 5148114

Courtesy Of Platinum Real Estate Professionals, LLC

(888) 974-7253

Property Features

  • Age
    21-30 Years Old
  • Heating System
    Forced Air
  • Lot Size
    0.65 Acres
  • Roof Type
    Asphalt

Map and Directions

Directions to 6037 Lake Road W, Ashtabula, OH 44004

Home seller CENTURY 21 HomeStar

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 HomeStar

(440) 449-9100
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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