Property for sale in City of Cleveland - 41707169 - Advertised on propertyO by Global Investments Incorporated

House for sale

£93,330

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707169


Property description

This large 2 apartment multi-family home is located in Euclid Green right next to South Collinwood and
only a short distance from the Lakefront. It is also only three minutes and one mile to Euclid Park School
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 is now vacant and 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 when 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.
Euclid Green 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 South Collinwood, this property
is only 2.5 miles from Euclid Creek Reservation, a beautiful nature trail full of natural wildlife, picnic areas
and stunning scenery. A great family area that is close to the city and yet nature is all around you.

 

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,923
Net annual rental income:
$25,077
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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