This fantastic two apartment multi family home is located on a nice street in Corlett and is less than one mile and just two minutes from John Adams College, one of the leading 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 renovated and now has two brand new tenants in place. The total rental income is $1,150 per month. The property is managed by a great local management company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.2 miles from Downtown and 4.9 miles from University Circle. The property is also just 3 miles from Garfield Heights and right next to Garfield park Reservation, one of the nicest areas in Cleveland.
• Four bedrooms.
• Two bathrooms.
• 2,072 sqft built.
• 10,000 sqft lot.
• Fully managed.
• Local staff
Purchase price: 51,900
Gross annual rental income: $13,800
Property running costs: $2,994 (Tax, insurance and management costs)
Net annual rental income: $10,806
Investment calculation - Net Income divided by Purchase price = NET ROI.