Eight bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41707472

Summary Data

Price £144,283
Price Type
Bedrooms 8 - Bed
Bathrooms 4 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This fantastic large four apartment multi family home is located in the sought after area of
Glenville, just 3 miles to the centre of University Circle. There are a large number of new build
properties being constructed in this area having a positive impact on nearby real estate.
The large brick built property is split into four spacious two bedroom apartments. Two of the
apartments have tenants in place each paying $600 per month. The current market rent with
Section 8 is $950 – $1,250 each month. The remaining 2 apartments are now vacant and will
be renovated by Global Investments best contractors and supplied rent ready to a Section 8
standard. When complete the management company will place brand new vetted tenants.
Each apartment should achieve $950 – $1,250 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 extremely well located and is
3 minutes from Rockefeller Park & Greenhouse, 3 minutes from Cultural Garden, 5 minutes
form Gordon Park and 11 minutes from Downtown Cleveland.

Investment Calculations
Purchase price
$169,900
Gross annual rental income:
$44,900
Property running costs:(Tax, insurance and management costs)
$6,940
Net annual rental income:
$37,960
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

23%

Break even in

4.34 Years.

No investment data available