Property for sale in City of Cleveland - 41700465 - Advertised on propertyO by Global Investments Incorporated

House for sale

£76,345

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41700465


Property description

This large two apartment multi family home is located on a nice street in Forest Hills close to the
shores of Lake Erie and is less than 1 mile from Glenville High School, 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 will be renovated by
Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The
property comes with a 2 month rental guarantee to give the new owner an immediate income while
the repairs are being completed. When complete the management company will place brand new
vetted tenants. Each apartment should achieve $800 – $850 in rent each month. This house when
renovated would appraise for approx $120,000 which would give the new owner immediate equity.
Forest Hills is seen as a very strong investment area in Cleveland, it is close to the Waterloo District,
Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines and bike trails. The house
is just 2 miles to the Famous Shoreby Club and the neighbouring community Bratenahl. Bratenahl is
one of the most exclusive residential areas in Cleveland where properties can sell in the Millions.

Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$3,275
Net annual rental income:
$17,125
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

19%

Break even in

5.26 Years.

Contact Global Investments Incorporated about this property

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