OH > Ashtabula > Connecticut Western Reserve
Ashtabula, OH 44004,6037 Lake RD W
Ashtabula, OH 44004,6037 Lake RD W
Ashtabula, OH 44004,6037 Lake RD W
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$1,600,000
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0.65 Acres Lot
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6037 Lake RD W Ashtabula, OH 44004

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Lorrie Raymond

Lorrie Raymond

+1(740) 381-7793

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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

Listed by Katie McNeill • Platinum Real Estate • katie@thekatiemcneillteam.com, 440-796-5506

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agent

Lorrie Raymond

OH/REALTOR®, Steubenville manager, WV/Salesperson | License ID: SAL.2018004006, WVS230302470

+1(740) 381-7793

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6037 Lake RD W