Lake Erie Multifamily Income
For Sale
$1,924,900
5214 Old Lake Rd, Geneva, OH 44041
Three-building multifamily with 12 rental units across four parcels, with access from Old Lake Road and Lake Road.
Property SizeContact for details
Days on Market94
Property Features for 5214 Old Lake Rd
General Information
Standard status
Active
Additional Details
Road Access
Yes
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$8,613
Listing Agency:
Brokers Realty Group
(330) 856-7777
Listed By:
Danny Duvall · License #2013000677
(330) 883-0040
Source:
Exprealty
Added: Jun 5
Changed: Aug 20
Last Checked: Sep 5 at 10:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brokers Realty Group
Investment Insights
Based on property information with market context.
This multifamily income property includes 12 total rental units across three buildings on four parcels. The building mix consists of a three-story, six-unit condo-style building with Lake Erie views, six ranch-style units, and a freestanding cottage. Units are offered in a 2-bedroom, 1-bath configuration. Public remarks indicate that many units have been updated with modern improvements.
Access is available from both Old Lake Road and Lake Road. The property is described as being within walking distance of Lake Erie, Township Park, public beach access, and the entertainment district known as “The Strip.”
According to the current operating summary in the remarks, four units are operating as monthly rentals, and others are described as being used for short-term vacation stays through Airbnb, VRBO, and direct bookings. Seven of the twelve units are currently occupied on month-to-month agreements, providing flexibility for future plans.
Access is available from both Old Lake Road and Lake Road. The property is described as being within walking distance of Lake Erie, Township Park, public beach access, and the entertainment district known as “The Strip.”
According to the current operating summary in the remarks, four units are operating as monthly rentals, and others are described as being used for short-term vacation stays through Airbnb, VRBO, and direct bookings. Seven of the twelve units are currently occupied on month-to-month agreements, providing flexibility for future plans.
Key Highlights
- Three‑building multifamily property with 12 total rental units across four parcels in Geneva‑on‑the‑Lake, OH.
- Unit mix: 12 units, all 2 bed / 1 bath, including a three‑story six‑unit condo‑style building, six ranch‑style units, and a freestanding cottage.
- Lake Erie and Strip views, with convenient access from both Old Lake Road and Lake Road.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 44041, OH
13,910
Population
7,155
Households
1.9
Avg Household Size
46
Median Age
18%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
214
Density / Sq Mi
$58,438
Median Household Income
$37,644
Median Earnings
$816
Median Rent
$167,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily with 12 rental units across four parcels, with access from Old Lake Road and Lake Road.
Where is this apartment building located?
The property is located at 5214 Old Lake Rd Geneva, OH.
What is the asking price?
The asking price for this property is $1,924,900.
What are key features of this property?
This property features: Three‑building multifamily property with 12 total rental units across four parcels in Geneva‑on‑the‑Lake, OH.; Unit mix: 12 units, all 2 bed / 1 bath, including a three‑story six‑unit condo‑style building, six ranch‑style units, and a freestanding cottage.; Lake Erie and Strip views, with convenient access from both Old Lake Road and Lake Road.
