This large multi-family home is located in Mount Pleasant and is only seven minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property has 2 tenants already in place with a good payment history. One of the tenants is on a private contract and the other is Section 8 housing so the rent is paid by the Government direct to the landlord. The property is managed by a great local management company.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.4 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 6.4 miles from Downtown and 4 miles from the University Circle.
• Four bedrooms.
• Two bathrooms
• 2,033 sqft built.
• 4,800 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 43,900
Gross annual rental income: $13,200
Property running costs: $2,819 (Tax, insurance and management costs)
Net annual rental income: $10,381
Investment calculation - Net Income divided by Purchase price = NET ROI.