Property for sale in City of Cleveland - 41697404 - Advertised on propertyO by Global Investments Incorporated

House for sale

£67,004

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41697404


Property description

This large multi-family home is located in a nice street in Union – Miles Park which is
a great neighbourhood in Cleveland, this area is close to Mount Pleasant and Slavic
Village. It is also just a few minutes to John Adams College And Career Academy,
which is one of the best schools in Cleveland.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. Both apartments
are now vacant and have just been updated throughout too a good rental ready
standard. The management company will place brand new tenants when the new
owner closes on the property, each apartment should achieve $750 – $800 in rent
each month. The tenants could either be private or Section 8.

Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 5
miles from Downtown and 4 miles from University Circle. University Circle has the
highest concentration of cultural attractions and performing arts venues in the whole
of the US. The house is also just a short walk to John. Adams College and Career
Academy.

Investment Calculations
Purchase price
$78,900
Gross annual rental income:
$19,200
Property running costs:(Tax, insurance and management costs)
$3,550
Net annual rental income:
$15,650
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

20%

Break even in

5 Years.

Contact Global Investments Incorporated about this property

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