Four bedroom house

Full Description

This large multi-family home is located on a nice street in South Broadway which is just 5.5 miles from Downtown Cleveland. This property is also just two minutes from Slavic Village one of the most demanded areas in Cleveland. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The house has just being updated throughout and both apartments have tenants ready and waiting to be placed, the total rent is $15,600 per year. This property is under management by a great local management company.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 5.5 miles miles from Downtown and 5.6 miles from University Circle. The property is also just 2 miles from Slavic Village. Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.

Investment Details

Purchase price: 49,900

Gross annual rental income: $15,600

Property running costs: $2,760
(Tax, insurance and management costs)

Net annual rental income: $12,840

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 26%

Key Information

Property ID: 35273754
Price: £39,170
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This huge four bedroom multi unit is a rare find at $49,900...