Property for sale in City of Cleveland - 41706994 - Advertised on propertyO by Global Investments Incorporated

House for sale

£84,837

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41706994


Property description

This fantastic two apartment multi family home is located in Kinsman, a desirable suburb which is just 5 miles
from Downtown Cleveland. The house is just 1.5 miles to John Adam College & Career Academy. & directly
opposite the Breakthrough Public School / Woodland Hills. A nationally recognised network of schools was
formed in 2010 by the highest-performing, college preparatory, nonprofit public charter 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. The property will be renovated by Global Investments best contractors
and will be supplied rent ready to a Section 8 standard, The works will begin when the new owner closes on
the property. The management company will then place brand new vetted tenants. Each apartment should
achieve $950 – $1,250 in rent each month with Section 8 housing.
Kinsman is viewed as a very central location in Cleveland Ohio, it is just 5 miles miles from Downtown and 4
miles from University Circle. The property is in a very desirable area for buyers and renters alike. The house is
less than 2 miles to Luke easter Park, a large recreational area consisting of a roller skating rink, gym, basketball
courts, track, Woodland Hills swimming pool, a playground, outdoor basketball courts, an outdoor running
track and shelter houses for picnicking.

Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,900
Net annual rental income:
$25,100
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

25%

Break even in

4 Years.

Contact Global Investments Incorporated about this property

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