This large multi-family home is located on a very nice street in Woodland Hills, just seven minutes from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The house has just been refurbished and made rental ready and also has just had a new roof. The management company will place brand new tenants when the new owner closes on the property. The house should achieve $1,100 – $1,200 in rent each month based on current Section 8 rates. The property is under management with a great local Cleveland property management company. Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from Downtown Cleveland, just 2 miles from the University Circle & only 1 mile from Shaker square. There are many new built homes being built in this area, increasing the value or surrounding properties with a good potential for capital appreciation. New builds are selling for over $300,000 Investment Calculations Purchase price $134,900 Gross annual rental income: $28,800 Property running costs:(Tax, insurance and management costs) $12,660 Net annual rental income: $16,140 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 37% Break even in 2.7 Years. This property is a House for sale.
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