This fantastic two apartment multi family home is located in South Broadway which is just 5 miles from Downtown Cleveland. The house is in Newburgh Heights and sits right next to Washington Park Golf Course. The property is divided into two large oner bedroom apartments. The property also has tenants in place in both apartments and then monthly rent is $1,400 each month. The house is under management witha great local Cleveland property management company. South Broadway is just South of Slavic Village which is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors due to new build properties increasing the value of the properties in the surrounding areas. The house is particularly well located sitting right next to Washington Golf course. Washington Golf Course is the highlight of Cleveland Metroparks Washington Reservation Newburgh Heights and Cleveland. A beautiful 9-hole, par 29 golf course and 26-station driving range. Investment Calculations Purchase price $81,900 Gross annual rental income: $16,800 Property running costs:(Tax, insurance and management costs) $3,430 Net annual rental income: $13,370 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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