5919 Lake Street 21-30, Ashtabula, OH 44048
sale
$2,500,000
|
Other
Courtesy Of Platinum Real Estate Professionals, LLC
Rare investment opportunity: 10-unit waterfront condominium package (Units 21-30) at Cabins on the Lake in Ashtabula, OH (MLS #5250233). Situated along the Lake Erie corridor, this high-performing short-term/vacation rental portfolio offers strong immediate cash flow and future exit flexibility. Each unit features its own individual condo deed, giving a buyer the option to hold as a high-yield portfolio or execute a unit-by-unit resale strategy down the line. FINANCIAL HIGHLIGHTS: - Package Price: $2,500,000 (10 Units) - Gross Revenue: Pro-forma $400,000 ($40,000/unit) - Projected NOI: $260,000 (~10.4% Cap Rate) - Low Overhead: HOA covers common grounds, exterior upkeep, trash, and seasonal maintenance. SELLER FINANCING AVAILABLE: Attractive seller-financing terms offered with 20% down ($500,000). Seller requires a recorded 1st position mortgage on the property. PRIME LAKESIDE LOCATION: Located minutes from Geneva-on-the-Lake, historic Ashtabula Harbor, top regional wineries, beaches, and public boat launches. High demand area for short-term vacationers. Sold strictly as a complete 10-unit package. Confidentiality applies; please do not disturb occupants or ongoing rental operations. Contact listing agent for full pro-forma package and seller financing term sheet.
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Property Features
- Age: 1-5 Years Old
- Amenities: Water Front
- Floors: 2
- Heating System: Baseboard
- Legal Description: 10-Unit Portfolio (Units 21-30) 21: 48-017-11-018-21 22: 48-017-11-018-22 23: 48-017-11-018-23 24: 48-017-11-018-24 25: 48-017-11-018-25 26: 48-017-11-018-26 27: 48-017-11-018-27 28: 48-017-11-018-28 29: 48-017-11-018-29 30: 48-017-11-018-30
- MLSID: 5250233
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