Property for sale in City of Cleveland - 41702810 - Advertised on propertyO by Global Investments Incorporated

House for sale

£83,139

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41702810


Property description

This two apartment multi family home is located in South Broadway which is just 5 miles from Downtown
Cleveland. This property is also in the heart of Broadway Slavic Village just 1 Mile from the centre of Slavic
Village, one of the most demanded areas in Cleveland due to the new build homes increasing in the area.
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 $600 in rent
each month, The current market rent is closer to $950 – $1,250 each month. The apartment downstairs
will be supplied by the seller refurbished and rental ready. The works will begin as soon as the new
owner closes on the property. When complete the management company will place a brand new tenant.
The apartment should achieve $950 – $1,250 in rent each month.
South Broadway is just South of Slavic Village which is going through large development projects. This is
one of the most up and coming areas in the City and in huge demand by investors due to new build
properties increasing the value of the properties in the surrounding areas. The house is less than 1 mile to
the centre of Slavic village and also just bordering on the famous Garfield Heights, one of the most
desirable areas in Cleveland.

Investment Calculations
Purchase price
$97,900
Gross annual rental income:
$22,200
Property running costs:(Tax, insurance and management costs)
$3,878
Net annual rental income:
$18,322
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

19%

Break even in

5.26 Years

Contact Global Investments Incorporated about this property

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