Property for sale in City of Cleveland - 41697818 - Advertised on propertyO by Global Investments Incorporated

House for sale

£72,099

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41697818


Property description

This fantastic two apartment multi family home is located on a very nice street in the sought after
area of South-Collinwood, it is just five minutes from the Lakeshore and less than 1 mile to
Collingwood 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, The apartment upstairs has a tenant in
place paying $650 in rent each month, The current market rent is $750 – $850 each month. The
apartment downstairs needs some minor cosmetic repairs to be made rental ready to a Section 8
standard. The funds are included in the price and the works will begin as soon as the new owner
closes on the property. When complete the management company will place a brand new tenant.
The apartment should achieve $750 – $850 in rent each month.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by
some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The
property is just 1 mile to Collinwood High School one of the best schools in Cleveland. This is one of
our most demanded areas by investors

Investment Calculations
Purchase price
$84,900
Gross annual rental income:
$18,000
Property running costs:(Tax, insurance and management costs)
$3,100
Net annual rental income:
$14,900
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

Enter details
  1. Keep me updated with similar properties
  2. CAPTCHA

Similar properties for sale nearby

25 more properties in City of Cleveland

© www.propertyo.com All Rights Reserved.24 Jacks Place, Shoreditch, London, E1 6NN.
Terms & Conditions | Privacy Policy