This huge multi-family home is located on a nice street in Corlett and is less than one mile and just three minutes from John Adams College, one of the leading schools in Cleveland.
The property is divided into three large apartments, you have a large three bedroom apartment upstairs and a large two bedroom apartment downstairs.
Both apartments are tenant occupied keeping the property in great condition. The attic one bedroom apartment has just been fully refurbished and the managementcompany will shortly be placing brand new tenants paying $350 per Month when the new owner closes on the property.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.4 miles from Downtown and 5.9 miles from University Circle. Also just 1.6 miles away you have Lee Harvard shopping centre. The property is also just walking distance to John Adams College, one of thing schools in Cleveland.
• Six bedrooms.
• Three bathrooms
• 2,469 sqft built.
• 4,082 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 67,900
Gross annual rental income: $17,400
Property running costs: $3,220 (Tax, insurance and management costs)
Net annual rental income: $14,180
Investment calculation - Net Income divided by Purchase price = NET ROI.