Property for sale in City of Cleveland - 41695353 - Advertised on propertyO by Global Investments Incorporated

House for sale

£246,190

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41695353


Property description

This fantastic opportunity to purchase a very large four property brick built residence located
in the sought after area of Glenville, just one mile to the centre of The University Circle.
The property is divided into four large three bedroom townhouses sitting side by side. The
townhouses have recently had all new windows at a cost of over $25,000 and each have
tenants in place. The total monthly rental income is $4,486 each month. Due to this
properties fantastic location and Air B&B option would also be a very good possibility. There
are many new build properties being built in the area selling for over $300,000 each and
many students are renting properties in the area.

Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo
District, Euclid, Bratenahl and the I90 (highway). It is also just 4 miles from Downtown and
just 1 mile from the University Circle. The house is within Greater Circle Living (GCL) which is
a part of the larger Greater University Circle Initiative, comprehensive community-building
and development strategy for rental and purchase housing options in Greater University
Circle neighbourhood’s.

Investment Calculations
Purchase price
$289,900
Gross annual rental income:
$53,832
Property running costs:(Tax, insurance and management costs)
$10,983
Net annual rental income:
$42,849
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years

Contact Global Investments Incorporated about this property

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