27
See all 27 photos
$2,500,000
Est. payment /mo
1.86 Acres Lot
Active
5919 Lake ST #21-30 Ashtabula, OH 44048
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Saybrook Sec 02
MLS Listing ID 5250233
HOA Y/N No
Year Built 2025
Annual Tax Amount $23,000
Tax Year 2025
Lot Size 1.862 Acres
Acres 1.8616
Property Sub-Type Other
Property Description
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.
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.
Location
State OH
County Ashtabula
Interior
Heating Baseboard
Furnishings Unfurnished
Fireplace No
Exterior
Water Access Desc Public
Building
Water Public
Level or Stories Two
Schools
School District Ashtabula Area Csd - 401
Others
Tax ID 48-017-11-018-21
Acceptable Financing Owner Will Carry, Private Financing Available
Listing Terms Owner Will Carry, Private Financing Available
Listed by Jim Sivalon • Platinum Real Estate • jimsivalon@contactplatinum.com, 440-251-4776
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