Property for sale in City of Cleveland - 41702811 - Advertised on propertyO by Global Investments Incorporated

House for sale

£101,822

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41702811


Property description

This fantastic two apartment multi family home is located on a very nice street in the sought
after area of South-Collinwood, it is just five minutes from the Lakeshore and less than 1 mile
to Collingwood High School, one of the best 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. The house also comes with a brand
new roof, new siding and all new windows. When complete the management company will
place brand new vetted tenants. Each apartment should achieve $1,000 – $1,250 in rent each
month.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is
surrounded by some great neighbourhoods like University Heights, Glenville, Richmond
Heights and Euclid, The property is less than 1 mile to Collinwood High School one of the best
schools in Cleveland. This is one of our most demanded areas by investors

Investment Calculations
Purchase price
$119,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$5,585
Net annual rental income:
$25,415
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

21%

Break even in

4.76 Years.

Contact Global Investments Incorporated about this property

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