Property for sale in City of Cleveland - 41706420 - Advertised on propertyO by Global Investments Incorporated

House for sale

£93,330

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41706420


Property description

This fantastic large two apartment multi family home is located in a very nice street in Hough, close to
the shores of Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to the
University Circle, the entrance is less than two miles away.
The property is split into two individual two bedroom apartments. Both apartments will be renovated
by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The
works will begin as soon as the new owner closes on the property. When complete the management
company will place brand new vetted tenants. Each apartment should achieve $950 – $1,250 in rent
each month.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid,
Bratenahl and the I90 (highway It is also just 2 miles from the University Circle. The house is also just a
short walk to the largest planned, single development in a century, proposed for Cleveland’s Hough
neighbourhood by reutilising the huge site of the closed Martin Luther King Jr. High School, 1651 E.
71st St in which 310 housing units and two divisible commercial spaces are planned.

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,477
Net annual rental income:
$25,523
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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