This large two apartment house is located on a nice street in Saint Clair- Superior just 3.2 miles from Downtown Cleveland. Saint Clair-Superior is close to the great lake, borderline lake properties offer lots of potential for future growth. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property has recently had new furnaces, new hot water tanks, all new electrics and new vinyl siding fitted. The property comes with tenants in place that are both related and each tenant is paying $550 per month in rent. This is a great investment property and managed by a great local Cleveland management company.
Saint Clair-Superior is viewed as an up and coming area in Cleveland due to its close proximity to the lake, it is also just 3.2 miles from Downtown and 2.8 miles from University Circle. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Two Bathrooms
• 2,666 sqft built.
• 7,000 sqft lot.
• Fully managed.
• Local staff.
• Great location.
Purchase price: 51,900
Gross annual rental income: $13,200
Property running costs: $3,020 (Tax, insurance and management costs)
Net annual rental income: $10,180
Investment calculation - Net Income divided by Purchase price = NET ROI.