Property for sale in City of Cleveland - 41709652 - Advertised on propertyO by Global Investments Incorporated

House for sale

£84,837

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41709652


Property description

This large two apartment multi-family home is located on a very nice street in Woodland
Hills, just 2 miles from the famous Shaker Square, one of the biggest attractions in
Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large two bedroom
apartment downsatairs and another large three bedroom upstairs. Both apartments have
tenants in place paying $700 in rent each month. The current market rent for the
apartments is closer to $1,000 each month. Included in the price is a Sellers Rental
Contribution of $7,200 which equates to $300 for 12 months ( Each apartment ) which
gives the new owner the current market rent for the first year, This will be credited to the
buyer on closing.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from
Downtown Cleveland, just 3 miles from the University Circle & only 2 miles from Shaker
square. There are many new built homes being built in this area, increasing the value or
surrounding properties with a good potential for capital appreciation. New builds are
selling for over $300,000.

Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$24,000
Property running costs:(Tax, insurance and management costs)
$4,329
Net annual rental income:
$19,671
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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