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House for sale

£83,139

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41699342

Property description

This great large two apartment multi family home is very well located in Cudell on the
Westside of Cleveland. The house is just a short walk to The Amazon Hub @ 10801
Madison Avenue.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. One apartment
has a tenant in place paying $700 in rent each month and the other apartment also
has a tenant in place paying $550 in rent each month. The current market rent for the
apartments is closer to $750 – $950 each month.
Cudel is located on the Westside and viewed as desirable location in Cleveland Ohio, it
is just 5 miles from Downtown Cleveland and just 2 miles from Detroit Shoreway which
is one of the best areas in Cleveland. The property is also only 5 minutes from
Edgewater park which features 9000 feet of shoreline, dog and swim beaches, boat
ramps, fishing pier, picnic areas and grills

Investment Calculations

Purchase price

$97,900

Gross annual rental income:

$15,000

Property running costs:(Tax, insurance and management costs)

$3,704

Net annual rental income:

$11,296

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

12%