$2,500,000
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.
5250233
MLS
5919 Lake Street Unit 21-30, Ashtabula
