Property for sale in City of Cleveland - 41707449 - Advertised on propertyO by Global Investments Incorporated

House for sale

£106,068

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707449


Property description

This fantastic two apartment multi family home is located on a nice street in St.Clair-Superior
which is just 3 miles to Downtown Cleveland.
The property is divided into two large apartments. You have a large 2 bedroom unit
downstairs and a large four bedroom unit upstairs. Both apartments will be renovated by
Global Investments best contractors and will be supplied rent ready to a Section 8 standard.
When complete the management company will place brand new vetted tenants. The two bed
apartment should achieve $950 – $1,250 in rent each month and the four bed $1,100 – $1,500
based on current Section 8 market rates.
St.Clair-Superior is an extremely well located suburb which is just 3 miles East of the centre of
downtown. The property is very close to Burke Lakefront Airport just to the North. Due to the
proximity of the City and every amenity possible this area is very highly demanded for rentals.
The property is also close to the VA hospital the Cleveland Museum of natural history, the
Cleveland, Museum of Art, casted western reserve University, the university hospitals, and the
Cleveland clinic.

Investment Calculations
Purchase price
$124,900
Gross annual rental income:
$33,000
Property running costs:(Tax, insurance and management costs)
$4,720
Net annual rental income:
$28,280
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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