Property for sale in City of Cleveland - 41707561 - Advertised on propertyO by Global Investments Incorporated

House for sale

£103,520

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707561


Property description

This fantastic two apartment multi-family home is located in the sought after area of Glenville,
just a short walk from Glenville High School which is one of the best schools in Cleveland.
The property is divided into two large three bedroom townhouses sitting side by side. 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 $1,250 – $1,700 in rent each month.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District,
Euclid, Bratenahl and the I90 (highway). It is also just 4.5 miles from Downtown and just 2 miles
from the University Circle. The house is within Greater Circle Living (GCL) which is a part of the
larger Greater University Circle Initiative, comprehensive community-building and development
strategy for rental and purchase housing options in Greater University Circle neighbourhood’s.

Investment Calculations
Purchase price
$121,900
Gross annual rental income:
$32,400
Property running costs:(Tax, insurance and management costs)
$4,611
Net annual rental income:
$27,789
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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