This large multi-family home is located on a very nice street in Woodland Hills less than seven minutes from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments were recently updated throughout and the management company will bet placing brand new tenants when the new owner closes on the property. The rental income will be $1,100 per month.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 4.9 miles from Downtown Cleveland, just 2.9 miles from the University Circle & only 1.7 miles from Shaker square. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Full basement.
• 1,280 sqft built.
• 7,361 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 51,900
Gross annual rental income: $13,200
Property running costs: $2,420 (Tax, insurance and management costs)
Net annual rental income: $10,780
Investment calculation - Net Income divided by Purchase price = NET ROI.