This large four apartment multi family home is located on a nice street in Clark Fulton on the Westside of Cleveland, the house is less than 1 mile from the Metro Health centre main campus. The property is split into four apartments each consisting of one bedroom and one bathroom. All four apartments are tenant occupied and each tenant pays $500 in rent each month. The property is under management by a great local company.
Clark Fulton is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 4.9 miles from Downtown Cleveland and only 2.4 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only less than 1 mile from the Metro Health centres main campus. A $946 million transformation plan of an 11-story 264-bed hospital on its main campus on West 25th Street in Cleveland. A huge project that is transforming the area.
• Four bedrooms.
• Four bathrooms.
• 2,587 sqft built.
• 5,077 sqft lot.
• Fully managed.
• Local staff.
• Great location.
Purchase price: 94,900
Gross annual rental income: $24,000
Property running costs: $3,900 (Tax, insurance and management costs)
Net annual rental income: $20,100
Investment calculation - Net Income divided by Purchase price = NET ROI.