This fantastic three bedroom multi – family home is located on a nice street in South Broadway which is just 4.8 miles from Downtown Cleveland. This property is also just half a mile from Slavic Village one of the most demanded areas in Cleveland. The property is divided into two apartments, you have a large two bedroom apartment and a large one bedroom apartment on the same level. Both apartments have good tenants in place and they are keeping the property in a great condition, also included in the price is a brand new roof. This property is under management by a great local property management company.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.8 miles miles from Downtown and 5.8 miles from University Circle. The property is also just half a mile 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.
• Three bedrooms.
• Two bathrooms
• 1,560 sqft built.
• 3,570 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 36,900
Gross annual rental income: $9,000
Property running costs: $2,018 (Tax, insurance and management costs)
Net annual rental income: $6,982
Investment calculation - Net Income divided by Purchase price = NET ROI.