Cleveland – $71,900

Net Return – 22%

Cleveland – $71,900 Array, Array

71,900

Description

This large three apartment multi-family home is located on a very nice street in Mount Pleasant just six minutes from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property is divided into three very large apartments, you have a large three bedroom apartment on the ground floor, a large three bedroom on the middle floor and a large two bedroom apartment on the top floor. This property comes with a $20,000 refurbishment included in the price to modernise and bring the property up to date, the management company have tenants ready to be placed once the work is completed.This property is under management by a great local management company.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.7 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. This property is also only 6.9 miles from Downtown and 4.6 miles from the University Circle.

Property Details

• Eight bedrooms.

• Three bathrooms.

• 2,034 sqft built.

• 6,800 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 71,900

Gross annual rental income: $18,600

Property running costs: $3,530
(Tax, insurance and management costs)

Net annual rental income: $15,070

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 22%

Break even in 4.54 Years

Detail

Price: 71,900

Net Return: 22%

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