This large multi-family home is located in Buckeye Shaker and is only five 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 very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs, both apartments are tenant occupied. The property was updated before the existing tenants moved into the property, the updates include a new roof, new windows and new hot water tanks. The property is managed by a great local company.
Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1 mile away you have the famous Shaker Square. This property is also only 6.3 miles from Downtown and 3 miles from the University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Two bathrooms.
• 1,408 sqft built.
• 4,339 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 52,900
Gross annual rental income: $12,900
Property running costs: $2,762 (Tax, insurance and management costs)
Net annual rental income: $10,138
Investment calculation - Net Income divided by Purchase price = NET ROI.