Property for sale in Cleveland - 41700823 - Advertised on propertyO by Global Investments Incorporated

House for sale

£80,591

Ohio, Cuyahoga County, Cleveland, USA Property ID: 41700823


Property description

This fantastic two apartment multi family home is located on a nice street in St.Clair-Superior
which is just 2.5 miles 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 divided into two large apartments, you have a large three bedroom apartment
downstairs and a large two bedroom apartment upstairs. The property in in immaculate
condition and has a brand new roof, new vinyl siding all new windows and also has air
conditioning which is a rare feature for rentals .The property is now vacant and rent ready. The
management company will place brand new vetted tenants when the new owner closes on the
property. The downstairs 3 bedroom should rent for $1,200 each month and the two bed
upstairs should rent for $800 each month. The tenants could also bed Section 8 housing.
St.Clair-Superior is an extremely well located suburb which is just 2.5 miles 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
$94,900
Gross annual rental income:
$24,000
Property running costs:(Tax, insurance and management costs)
$3,818
Net annual rental income:
$20,182
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

22%

Break even in

4,54 Years.

Contact Global Investments Incorporated about this property

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