This fantastic two apartment multi family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and just. Short walk to Collingwood High School, one of the best schools in Cleveland. The property is divided into two large apartments. You have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property also has tenants in place in both apartments paying $650 in rent each month. The market rent is closer to $850 in rent each month. South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is less than 1 mile to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors Investment Calculations Purchase price $77,900 Gross annual rental income: $15,600 Property running costs:(Tax, insurance and management costs) $3,573 Net annual rental income: $12,027 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 16% Break even in 6.25 Years. This property is a House for sale.
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