This great multi family home is located on a nice street in South Broadway which is just 7.2 miles from Downtown Cleveland. This property is also just 1.2 miles from Slavic Village one of the most demanded areas in Cleveland. 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 just been updated throughout and the management company have just placed brand new tenants paying $550 each per month. Both tenants are current and top to date with their rent and keeping the property in great condition.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 7.2 miles miles from Downtown and 5.9 miles from University Circle. The property is also just 1.2 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.
• Four bedrooms.
• Two bathrooms
• 1,672 sqft built.
• 4,176 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 49,900
Gross annual rental income: $13,200
Property running costs: $2,670 (Tax, insurance and management costs)
Net annual rental income: $10,530
Investment calculation - Net Income divided by Purchase price = NET ROI.