Property for sale in Cleveland - 41708850 - Advertised on propertyO by Global Investments Incorporated

House for sale

£98,425

Ohio, Cuyahoga County, Cleveland, USA Property ID: 41708850


Property description

This fantastic two apartment multi family home is located on a nice street in St.Clair-Superior which is just
2.5 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 three bedroom apartment downstairs
and a large four 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 with Section 8 housing based on
the current market rate.
St.Clair-Superior is an extremely well located suburb which is just 2.5 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. The house is walking distance to Saint
Martin de Porres & also the fantastic Goldhorn Brewery, the latest trendy extremely popular tap house.

Investment Calculations
Purchase price
$115,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,349
Net annual rental income:
$25,651
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

22%

Break even in

4.54 Years.

Contact Global Investments Incorporated about this property

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