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5214 Old Lake Rd 12 Unit Apartment Building $2,708,334 CAD ($225,695 CAD/Unit) Geneva, OH 44041
Investment Highlights
- Offers a rare 12-unit investment in Geneva-on-the-Lake blending stable income with short-term rental upside in a premier Lake Erie destination.
- Combines long-term rentals with Airbnb & VRBO use, creating immediate cash flow & clear potential to increase revenue through operational upside.
- Seven units are leased on month-to-month terms, offering flexibility to reposition, renovate, or increase rents based on future strategy.
- Positioned steps from Lake Erie and the Strip, the property provides walkable access to beaches, dining, shopping, and year-round amenities.
- Includes 12 two-bed, one-bath unites across three structures, featuring a condo-style building, ranch units, and a freestanding cottage.
- Located in a high-demand vacation market with consistent tourism, supporting strong occupancy trends and long-term investment stability.
Executive Summary
5214 Old Lake Road, Geneva-on-the-Lake, Ohio 44041 presents an exceptional investment opportunity in one of Northeast Ohio's most desirable vacation destinations. Situated on four parcels with stunning views of Lake Erie and panoramic vistas down the famous Geneva-on-the-Lake Strip, this unique property offers a rare combination of long-term rental income and short-term vacation rental potential.
Comprised of 12 total rental units (two bed, one bath per unit), the property spans three buildings, including a three-story, six-unit condo-style building with Lake Erie views, six ranch-style units, and a charming freestanding cottage. Many units have been updated with premium finishes and modern improvements, making them highly attractive to both seasonal visitors and long-term tenants. Four units operate as monthly rentals generating consistent income, while several others are utilized as short-term rentals through Airbnb, VRBO, and direct bookings, creating excellent upside potential for increased revenue. Seven of the 12 units are currently occupied on month-to-month agreements, providing flexibility for an investor's future plans.
Guests and tenants enjoy convenient access from both Old Lake Road and Lake Road, along with a prime, walkable location just steps from Lake Erie, Township Park, public beach access, and the entertainment district known as "The Strip." Restaurants, bars, shopping, live entertainment, wineries, and countless seasonal attractions are all within walking distance, making this a highly sought-after destination year after year.
Whether looking to expand an investment portfolio, capitalize on the thriving vacation rental market, or implement a mixed-use income strategy, this Geneva-on-the-Lake property presents a rare opportunity in a location where demand continues to grow.
Schedule a private showing to explore the full potential of this income-producing asset.
Comprised of 12 total rental units (two bed, one bath per unit), the property spans three buildings, including a three-story, six-unit condo-style building with Lake Erie views, six ranch-style units, and a charming freestanding cottage. Many units have been updated with premium finishes and modern improvements, making them highly attractive to both seasonal visitors and long-term tenants. Four units operate as monthly rentals generating consistent income, while several others are utilized as short-term rentals through Airbnb, VRBO, and direct bookings, creating excellent upside potential for increased revenue. Seven of the 12 units are currently occupied on month-to-month agreements, providing flexibility for an investor's future plans.
Guests and tenants enjoy convenient access from both Old Lake Road and Lake Road, along with a prime, walkable location just steps from Lake Erie, Township Park, public beach access, and the entertainment district known as "The Strip." Restaurants, bars, shopping, live entertainment, wineries, and countless seasonal attractions are all within walking distance, making this a highly sought-after destination year after year.
Whether looking to expand an investment portfolio, capitalize on the thriving vacation rental market, or implement a mixed-use income strategy, this Geneva-on-the-Lake property presents a rare opportunity in a location where demand continues to grow.
Schedule a private showing to explore the full potential of this income-producing asset.
Property Facts
| Price | $2,708,334 CAD | Lot Size | 0.64 AC |
| Price Per Unit | $225,695 CAD | Building Size | 12,674 SF |
| Sale Type | Investment | Average Occupancy | 55% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1998 |
| Property Subtype | Apartment | ||
| Zoning | C - Commercial | ||
| Price | $2,708,334 CAD |
| Price Per Unit | $225,695 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.64 AC |
| Building Size | 12,674 SF |
| Average Occupancy | 55% |
| No. Stories | 3 |
| Year Built | 1998 |
| Zoning | C - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Refrigerator
- Stainless Steel Appliances
- Range
- Views
- Dining Room
- Double Pane Windows
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 600 - 1,000 |
Not walkable
10/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $278,098 CAD | |
| Land Assessment | $69,988 CAD | Total Assessment | $348,086 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$69,988 CAD
Improvements Assessment
$278,098 CAD
Total Assessment
$348,086 CAD
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5214 Old Lake Rd
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