Six Bedroom house

Full Description

This large multi-family home is located on a very nice street in the sought after area of South-Collinwood, it is just minutes from the Lakeshore and three minutes from Collingwood High School, one of the best schools in Cleveland. The property is divided into three large two bedroom apartments, All three apartments are tenant occupied and being kept in good condition, the total rental income per month is $1,750 The property is under management by a great local management company.

South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, this property is only 7.6 miles from Downtown and just 4.9 miles from the University Circle.

Investment details

Purchase price: 76,900

Gross annual rental income: $21,000

Property running costs: $4,612
(Tax, insurance and management costs)

Net annual rental income: $16,388

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

Return on investment: 22%

Key Information

Property ID: 37209860
Price: £56,633
Property Type: Townhouse

  • Residential Property
  • House

This large six bedroom multi unit is a rare find at $76,900....