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Eight Bedroom House (ref. 40158292)
Date & Time Listed: 2020-04-30 11:05:36 (GMT)
This large two apartment multi family home is located on a nice street in Union – Miles Park which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant and Slavic Village. It is also just a few minutes from John Adams College And Career Academy, which is one of the best schools in Cleveland. The property is divided into two large apartments, you have a large four bedroom apartment downstairs and a large four bedroom apartment upstairs. The property has good tenants already in place, One tenant is paying $650 in rent each month and the other $825 each month. The property is under management by a great local Cleveland management company.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 5.9 miles from Downtown and 5 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 62,900
Gross annual rental income: $17,700
Property running costs: $3,609
(Tax, insurance and management costs)
Net annual rental income: $14,091
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 23%
Break even in 4.34 Years
This property is a Townhouse for sale.
Number of Bedrooms: 8
Number of Bathrooms: 2
Price: 62,900.00 USD
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