This large multi-family home is located in Buckeye Shaker and is only six 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 just been refurnished throughout and the management company will be placing brand new tenants when the new owner closes on the property paying $550 – $600 in rent each month.
Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1.2 miles away you have the famous Shaker Square. This property is also only 6.6 miles from Downtown and 3.7 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
• 2,036 sqft built.
• 4,551 sqft lot.
• Fully managed.
• Local staff
Purchase price: 51,900
Gross annual rental income: $14,400
Property running costs: $2,507 (Tax, insurance and management costs)
Net annual rental income: $11,893
Investment calculation - Net Income divided by Purchase price = NET ROI.