6215 Ridge Rd Geneva, OH 44041

Property Details for 6215 Ridge Rd

Year built

1953

Lot size

1.39 lot acres

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a well-maintained six-unit multi-family building situated on a spacious 1.39-acre lot in Geneva, OH. The property boasts a recently installed roof on the east side, covering three generously sized two-bedroom apartments. Each of these units features hot water heating and individual window air conditioning units. The west side of the building comprises three additional units: one three-bedroom apartment and two one-bedroom apartments. A significant advantage is the presence of coin-operated laundry facilities in the common basement area on the west side, generating an estimated annual income of $3,000. The current owner is responsible for water, common area electricity, exterior lighting, and dumpster service, while tenants are responsible for their individual utility costs. The property currently generates monthly rental income exceeding $4,000, making it a truly turnkey investment. Its prime location offers convenient access to local restaurants, wineries, and is a short drive from Lake Erie, Geneva-on-the-Lake, and Ashtabula Harbor, ensuring a strong and consistent rental market. This property is priced at $349,900 and represents a compelling opportunity for investors seeking a stable and profitable income stream. The building's layout and amenities provide a desirable living environment for tenants, contributing to its strong occupancy rate and consistent rental income.