Property for sale in City of Cleveland - 41703985 - Advertised on propertyO by Global Investments Incorporated

House for sale

£93,330

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41703985


Property description

This large brick built multi-family home is located on a very nice street in Woodland Hills, just 2 miles
from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of
restaurants, bars, boutiques and even has a cinema.
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 vacated and will be
renovated by Global Investments best contractors and will be supplied rent ready to a Section 8
standard. The property comes with a 1 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 and
appliances which helps obtain a higher Section 8 rental. When complete the management company will
place brand new vetted tenants. Each apartment should achieve $1,000 – $1,300 in rent each month.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from Downtown
Cleveland, just 3 miles from the University Circle & only 2 miles from Shaker square. There are many
new built homes being built in this area, increasing the value or surrounding properties with a good
potential for capital appreciation. New builds are selling for over $300,000.

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$31,200
Property running costs:(Tax, insurance and management costs)
$4,962
Net annual rental income:
$26,238
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

24%

Break even in

4.16 Years.

Contact Global Investments Incorporated about this property

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