Property for sale in City of Cleveland - 41707451 - Advertised on propertyO by Global Investments Incorporated

House for sale

£89,084

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707451


Property description

This large two apartment multi family home is located on a nice street in Forest Hills close to
the shores of Lake Erie and is less than 1 mile from Glenville High School, one of the best
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. 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 after 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.
Forest Hills is seen as a very strong investment area in Cleveland, it is close to the Waterloo
District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines and bike
trails. The house is just 2 miles to the Famous Shoreby Club and the neighbouring community
Bratenahl. Bratenahl is one of the most exclusive residential areas in Cleveland where
properties can sell in the Millions.

Investment Calculations
Purchase price
$104,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,803
Net annual rental income:
$25,197
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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