Property for sale in City of Cleveland - 41695921 - Advertised on propertyO by Global Investments Incorporated

House for sale

£76,345

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41695921


Property description

This fantastic two apartment multi family home is located on a nice street in GoodrichKirkland which is just 2 miles and walking distance to Downtown Cleveland. Properties
close to the City rarely come onto the market at the right price as there is huge potential
for future capital appreciation.
The property is split into two apartments. You have a large two bedroom apartment
downstairs and a large two bedroom apartment upstairs. The property has recently been
updated throughout and is now rental ready. The management company can place
brand new tenants when the new owner closes on the property. Each apartment should
achieve $750 – $850 in rent each month. Due to this properties fantastic location and Air
B&B option would also be a very good possibility.

Goodrich-Kirkland Park is an extremely well located suburb which is just walking
distance East of the centre of downtown. The property is very close to Burke Lakefront
Airport just to the North. Due to the proximity of the City and every amenity possible this
area is very highly demanded for rentals.

 

Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$3,034
Net annual rental income:
$17,366
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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