Commercial Real Estate for Sale at 6037 Lake Road W in Ashtabula, OH for $1,600,000

Listing data last changed 8/15/2025
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6037 Lake Road W | Ashtabula

$1,600,000 | 0.0 Sq. Ft.

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\u2014everything 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\u2014offering huge upside potential. Opportunities like this don\u2019t last\u2014secure this high-yield lakefront investment today. MLSNow 5148114

Directions to property: Turn left off of Lake Rd W

MLS Listing ID: 
MLSNow 5148114
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,600,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Ashtabula
Address: 
6037 Lake Road W, Ashtabula, OH 44004
County: 
Ashtabula
Latitude: 
41.8754390
Longitude: 
-80.8778810
Directions: 
Turn left off of Lake Rd W
Public Remarks: 
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\u2014everything 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\u2014offering huge upside potential. Opportunities like this don\u2019t last\u2014secure this high-yield lakefront investment today.
Community Information
School District: 
Ashtabula Area CSD - 401
Subdivision: 
Connecticut Western Reserve
Building Details
Details about the building on a property.
Stories: 
3
Year Built: 
2002
Living Area: 
0.0
Construction
Foundation Details: 
Slab
Roof: 
Asphalt
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air
Cooling System: 
Central Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.66
Lot Size (Area): 
0.66
Lot Features
Parking Type: 
Attached,Direct Access,Driveway,Garage,On Site,Parking Lot
Total Parking Spaces: 
15
Fence: 
Partial
Public Record
Parcel Number: 
480172000100
Annual Tax: 
$10,686.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Katie McNeill
Listing Co-Agent Name: 
David Sladewski
Listing Office Name: 
Platinum Real Estate
Listing Co-Office Name: 
Platinum Real Estate

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