Eight Bedroom House (ref. 41695275) - Houses for Sale, Real Estate - Number of Bedrooms: 8, Number of Bathrooms: 3 - Cuyahoga, Ohio, United States

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Eight Bedroom House (ref. 41695275)
Date & Time Listed: 2024-03-04 20:53:02 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 8, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This fantastic two apartment multi-family home is located in the sought after area of Glenville,
just a short walk from Glenville High School which is one of the best schools in Cleveland.
The property is divided into two large four bedroom townhouses sitting side by side. The
tenants are moving out of the property and the house will be vacant before the new owner
closes. Both apartments are in great condition however Included in the price are funds for
cosmetic repairs to make both apartments rent ready to a Section 8 standard. The works will
begin as soon as the new owner closes on the property. When complete the management
company will place brand new tenants. Each apartment should achieve $1,000 – $1,250 The
tenants can either be private or Section 8 housing, the decision will be for the new owner.
Glenville 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 4.5 miles from Downtown and just
2 miles from the University Circle. The house is within Greater Circle Living (GCL) which is a part
of the larger Greater University Circle Initiative, comprehensive community-building and
development strategy for rental and purchase housing options in Greater University Circle
neighbourhood’s.
Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$25,634
Property running costs:(Tax, insurance and management costs)
$4,366
Net annual rental income:
$21,268
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
27%
Break even in
3.7 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 8
Number of Bathrooms: 3

Price: 94,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 8, Number of Bathrooms: 3 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 8, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga