This large multi-family home is located in Mount Pleasant and is only seven 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. The property has just been completely rehabbed inside and out including a new roof, new mechanicals and new flooring and paint. The management company also has brand new tenants screened and moving in 15th June paying $600 each in rent per Month.
Mount Pleasant is seen as a very strong investment area in Cleveland, just 2.2 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 5.9 miles from Downtown and 3.7 miles from the University Circle.
• Four bedrooms.
• Two bathrooms
• 2,080 sqft built.
• 5,200 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 54,900
Gross annual rental income: $14,400
Property running costs: $2,960 (Tax, insurance and management costs)
Net annual rental income: $11,440
Investment calculation - Net Income divided by Purchase price = NET ROI.