This very nice two apartment multi family home is located in Kinsman which is just 5.7 miles from Downtown Cleveland. This property is also just 1.5 miles from Slavic Village one of the most demanded areas in Cleveland. The property is divided into two large apartments, you have a large three bedroom apartment upstairs and a large two bedroom apartment downstairs. Both apartments already have tenants in place, one paying $500 in rent each month and the other paying $495 in rent each month. This property is under management by a great local Cleveland property management company.
Kinsman is viewed as a very central location in Cleveland Ohio, it is just 5.7 miles miles from Downtown and 3.9 miles from University Circle. The property is also just 1.5 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.
• Five bedrooms.
• Two bathrooms.
• 2,037 sqft built.
• 8,640 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 44,900
Gross annual rental income: $11,940
Property running costs: $2,278 (Tax, insurance and management costs)
Net annual rental income: $9,662
Investment calculation - Net Income divided by Purchase price = NET ROI.