Five Bedroom House (ref. 41706419) - Houses for Sale, Real Estate - Number of Bedrooms: 5, Number of Bathrooms: 3 - Cuyahoga, Ohio, United States

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Five Bedroom House (ref. 41706419)
Date & Time Listed: 2024-09-02 10:38:04 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This fantastic three apartment multi family home is located right next to the Waterloo Art District in North
Collinwood, near to the Lakefront and close to the new Amazon facility. The Waterloo Arts District is known as a
bustling area with art studios, entertainment, restaurants, bars and retail, it is the place to go out on the Eastside of
Cleveland.
The property is divided into three large apartments. You have 2 large 2 bedroom apartments and a large 1 bedroom
attic apartment. The property has tenants in place in one two bed apartment paying $925 in rent each month. The
second 2 bed apartment is rent ready. The management company will place brand new vetted tenants when the new
owner closes on the property, the apartment should achieve $950 – $1,250 in rent each month. The third apartment
needs some minor cosmetic repairs to be made rent ready, the funds are included in the price and the work will begin
when the new owner closes on the property. When complete the management company will also place new tenants
in this unit, the apartment should achieve $600 – $800 in rent each month.
The Waterloo Arts District is a funky, indie community, with lots of cool little galleries and studios. You can hear live
music at one of the best venues in the country or browse an awesome indie music store. The coffee shops roasts all
their own beans, and there are plenty of great places to eat within a five-minute drive.Just ten minutes to downtown
Cleveland, the Lakefront is also just five minutes away.
Investment Calculations
Purchase price
$129,900
Gross annual rental income:
$34,500
Property running costs:(Tax, insurance and management costs)
$5,483
Net annual rental income:
$29,017
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
23%
Break even in
4.34 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 5
Number of Bathrooms: 3

Price: 129,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga