Property for sale in City of Cleveland - 41699364 - Advertised on propertyO by Global Investments Incorporated
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House for sale

£59,361

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41699364


Property description

This large Two bedroom multi family home is located on a nice street in Detroit Shoreway on
the Westside of Cleveland, the house is only 1.3 miles and just five minutes from the famous
Gordon square arts district.
The property is split into two spacious one bedroom apartments.. Both apartments have
tenants in place each paying $500 in rent per month. The current market rent is closer to $750
for each unit. The seller has requested the tenants not to be disturbed, internal pictures will be
supplied with the inspection. All contracts are subject to a full independent inspection. The
house is under management with a great local Cleveland property management company.
Detroit Shoreway is located on the Westside and viewed as a very central location in Cleveland
Ohio, it is just 5 miles from Downtown Cleveland. Detroit Shoreway is fine of the best suburbs
outside of the City. Home to Home to Edgewater Beach, the Gordon Square Arts District,
Cleveland EcoVillage and Lorain Avenue Antiques District to name a few. The house is just four
minutes to Gordon square arts district, a world-class arts district, a retail and dining destination
and a walkable community in the heart of Cleveland’s Detroit Shoreway neighbourhood.

Investment Calculations
Purchase price
$69,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$2,850
Net annual rental income:
$9,150
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

13%

Break even in

7.69 Years

Contact Global Investments Incorporated about this property

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