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Eight Bedroom House (ref. 40732806)
Date & Time Listed: 2020-06-22 11:18:57 (GMT)
This large four apartment multi family house is located in a very nice street in Hough close to the shores of Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to the University Circle, the entrance is less two miles away. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art, plus many more. There are four large two bedroom, one bathroom apartments and a full basement. The property has been recently updated inside and now has tenants in place in all four apartments paying $650 in rent each month. This property is under management by a great local company.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway It is also just 1.9 miles from the University Circle.
Purchase price: 154,900
Gross annual rental income: $31,200
Property running costs: $5,420
(Tax, insurance and management costs)
Net annual rental income: $25,780
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years
This property is a Townhouse for sale.
Number of Bedrooms: 8
Number of Bathrooms: 4
Price: 154,900.00 USD
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