Property for sale in City of Cleveland - 41708255 - Advertised on propertyO by Global Investments Incorporated

House for sale

£110,314

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41708255


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.
The property is split into two apartments sitting side by side. One apartment has three
bedrooms and one bathroom and the second has four bedrooms and one bathroom. 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 $1,250 – $1,700 in rent each month.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 7 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 also less
than 2 miles to John. Adams College and Career Academy.

Investment Calculations
Purchase price
$129,900
Gross annual rental income:
$32,400
Property running costs:(Tax, insurance and management costs)
$5,299
Net annual rental income:
$27,101
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

21%

Break even in

4.76 Years.

Contact Global Investments Incorporated about this property

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