This large multi-family home is located in a nice street in Union – Miles Park which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant and Slavic Village. It is also just a few minutes from John Adams College And Career Academy, which is one of the best schools 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 completely rehabbed inside and out. The property has tenants in place both paying $550 in rent each month. The property is under management by a great local Cleveland management company.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 6.2 miles from Downtown and 5.2 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Two bathrooms
• 1,872 sqft built.
• 2,800 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 53,900
Gross annual rental income: $13,200
Property running costs: $2,645 (Tax, insurance and management costs)
Net annual rental income: $10,555
Investment calculation - Net Income divided by Purchase price = NET ROI.