Property for sale in City of Cleveland - 41702409 - Advertised on propertyO by Global Investments Incorporated

House for sale

£84,837

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41702409


Property description

This large multi-family home is located on a nice street in Corlett and is just one mile and four
minutes 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 will be renovated by
Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The
property comes with a 2 month rental guarantee to give the new owner an immediate income
while the repairs are being completed. When complete the management company will place
brand new vetted tenants. Each apartment should achieve $950 – $1,100 in rent each month. This
house when renovated would appraise for approx $130,000 which would give the new owner
immediate equity.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from Downtown and
5 miles from University Circle. Also just 1.5 miles away you have Lee Harvard shopping centre. The
property is also just 4 minutes to John Adams College, one of the best schools in Cleveland.

Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$26,400
Property running costs:(Tax, insurance and management costs)
$4,062
Net annual rental income:
$22,338
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

23%

Break even in

4.34 Years.

Contact Global Investments Incorporated about this property

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