This fantastic four bedroom, two bathroom house is located in the highly sought after area of North Collingwood right in the heart of Manhattan Beach, actually on Lakeshore Blvd near to the famous Euclid Beach Park. The property has just come onto the market and the management company will place brand new tenants when the new owner closes on the property paying $850 in rent each month.
North-Collinwood is seen as a very strong investment area in Cleveland, the city is investing millions into a neighbourhood makeover. Also Alan Glazen a retired advertising executive is the driving force behind Project Light Switch. Alan wishes to turn North Collinwood into Cleveland’s premier music and entertainment district with concert venues, music stores, restaurants, bars, a bocce court and, hopefully, boutique hotels. The potential for capital growth in the coming years for North Collinwood is very high.
• Four bedrooms.
• Two bathrooms
• 1,656 sqft built.
• 5,440 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 45,900
Gross annual rental income: $10,200
(Tax, insurance and management costs)
Net annual rental income: $7,520
Investment calculation - Net Income divided by Purchase price = NET ROI.