1 of 7

House for sale

£67,004

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41701480

Property description

This large multi-family home is located on a nice street in Corlett and is less than one
mile and just three minutes and less than one mile from John Adams College, one of the
leading 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. Both apartments
have just been made rental ready. The management company will place brand new
tenants when the new owner closes on the property. Each apartment should achieve
$650 – $750 in rent each month. The management company already have applications
in process.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.7 miles from
Downtown and 5.8 miles from University Circle. Also just 1.4 miles away you have Lee
Harvard shopping centre. The property is also just 3 minutes to John Adams College,
one of thing schools in Cleveland.

Investment Calculations

Purchase price

$78,900

Gross annual rental income:

$18,000

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

$3,322

Net annual rental income:

$14,678

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

Return of investment

19%