INNOVATE Real Estate
Other at 5919 Lake Street 21-30, Ashtabula
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$2,500,000

5919 Lake Street 21-30
Ashtabula, OH 44048
Listed by Jim Sivalon · Platinum Real Estate
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
2025

About this home

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.

Highlights

Waterfront

Property details

MLS
NOWDD
MLS #
5250233
Property type
Other
Subdivision
Saybrook Sec 02
Status
Active
Days on market
N/A
On market date
October 2, 2026
Stories
2
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
1.8616 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Kingsville Elementary School
2.21 mi away · Grades 0-5
Nearest school -- attendance-zone data not available here
2.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
338
Student:teacher ratio
18.8:1
District
Buckeye Local
Middle
Conneaut Middle School
4.44 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
353
Student:teacher ratio
17.7:1
District
Conneaut Area City
High
Conneaut High School
5.14 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
382
Student:teacher ratio
16.6:1
District
Conneaut Area City

Walkability

Blended score for Ashtabula's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

13
Very car-dependent
out of 100
EPA National Walkability Index
4.2 / 20 -- Least walkable
Google Places amenity density
0 / 100
Restaurants & cafes0
Grocery stores0
Parks0
Schools0
Transit stops0
Pharmacies0

Market position

How this listing compares to current activity in Ashtabula, from live MLS data.

On the market 0 days -- 74 fewer days than Ashtabula's current average of 74 days.
For reference, the median list price across 164 active listings in Ashtabula right now is $186,750.

Mortgage calculator

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Est. monthly payment
$15,205/mo
$500,000 down
$2,000,000 loan
Principal & interest$12,972
Property tax (est.)$2,083
Home insurance (est.)$150

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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 14 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.