Property for sale in City of Cleveland - 41707545 - Advertised on propertyO by Global Investments Incorporated

House for sale

£91,631

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707545


Property description

This large multi-family home is located in Union – Miles Park which is a great neighbourhood in
Cleveland, this area is close to Mount Pleasant and Slavic Village. It is also just a few minutes to
John Adams College And Career Academy, which is one of the best schools in Cleveland.
There are two large bedrooms, a full basement and a large garden. 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 after the new owner closes on the property. When complete the
management company will place brand new vetted tenants. Each apartment should achieve $950
– $1,300 in rent each month.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 6 miles from
Downtown and 5 miles from University Circle. University Circle has the highest concentration of
cultural attractions and performing arts venues in the whole of the US. The house is in a great
street near to Luke Easter Park. The Park covers an area of 97.3 Acres and is popular for walking
and family activities. The park features sports facilities such as a basketball court, a tennis court,
a baseball court, a multi-sport court, a swimming pool and an abundance of natural scenery.

Investment Calculations
Purchase price
$107,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,968
Net annual rental income:
$25,302
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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