Property for sale in City of Cleveland - 41708949 - Advertised on propertyO by Global Investments Incorporated

House for sale

£100,123

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41708949


Property description

This large five bedroom multi family home is located on a nice street in the sought after area of
Glenville, just three minutes and one mile from Glenville High School and is only a short distance from
the Lakefront.
The property is split into two large apartments. There is a large 4 bedroom apartment downstairs and a
one bedroom apartment upstairs. Both apartments will be renovated by Global Investments best
contractors and will be supplied rent ready to a Section 8 standard. When complete the management
company will place brand new vetted tenants. The four bed apartment should achieve $1,000 – $1,500
in rent each month and the one bed apartment $600 – $800 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). The property is just 1.3 miles from E105th Street. The up and coming
“ Opportunity Corridor “ and the final phase of a $306 million roadway project. The house is also 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
$117,900
Gross annual rental income:
$27,600
Property running costs:(Tax, insurance and management costs)
$4,510
Net annual rental income:
$23,090
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

20%

Break even in

5 Years.

Contact Global Investments Incorporated about this property

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