Property for sale in City of Cleveland - 41708326 - Advertised on propertyO by Global Investments Incorporated

House for sale

£89,933

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41708326


Property description

This fantastic two apartment multi family home is located on a nice street in St.Clair-Superior which is
just 2.4 miles to Downtown Cleveland. Properties close to the City rarely come onto the market at the
right price as there is huge potential for future capital appreciation.
The property is divided into two large apartments, you have a large two bedroom apartment downstairs
and a large two bedroom apartment upstairs. The property is now vacant and 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 when the new owner closes on the property. When complete the management
company will place brand new vetted tenants. Each apartment should achieve $1,000 – $1,250 in rent
each month.
St.Clair-Superior is an extremely well located suburb which is just 2.4 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.

Investment Calculations
Purchase price
$105,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,208
Net annual rental income:
$25,792
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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