Property for sale in City of Cleveland - 41699617 - Advertised on propertyO by Global Investments Incorporated

House for sale

£93,330

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41699617


Property description

This fantastic large two apartment multi family home is located in South Broadway which is just 7 miles
from Downtown Cleveland. The house is also bordering on Garfield Heights and is just 1.2 miles from
the famous Garfield Heights High School. Garfield Heights is one of the most demanded and
prestigious areas 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 have just been made rental
ready. The management company will place brand new tenants when the new owner closes on the
property. Each apartment should achieve $800 – $950 in rent each month. The tenants could be
Section 8 or private. The property has a potential 70% finance available, terms and conditions apply.
South Broadway is just 2 miles South of Slavic Village which is going through large development
projects. This is one of the most up and coming areas in the City and in huge demand by investors due
to new build properties increasing the value of the properties in the surrounding areas. The house is
also just bordering on the famous Garfield Heights, one of the most desirable areas in Cleveland. The
house is just 1.2 miles from Garfield Heights High School.

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$22,800
Property running costs:(Tax, insurance and management costs)
$3,782
Net annual rental income:
$19,018
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

18%

Break even in

5.5 Years.

Contact Global Investments Incorporated about this property

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