This huge six apartment multi family home is located in Mount Pleasant and is right next to Shaker Heights. The house is also just 1.5 miles from the famous Shaker Heights High School. Shaker Heights is one of the most demanded and prestigious areas in Cleveland. The property is divided into six spacious two bedroom apartments. All six apartments will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The works will begin when the new owner closes on the property. When complete the management company will place brand new vetted tenants. Each two bed apartment should achieve $850 – $1,100 in rent each month. Mount Pleasant is seen as a very strong investment area in Cleveland, just 1 mile away you have Shaker Square which is one of the biggest attractions in Cleveland. The house is also just bordering on the famous Shaker Heights, one of the most desirable areas in Cleveland. The house is just 1.5 miles from Shaker Heights High School. Investment Calculations Purchase price $249,900 Gross annual rental income: $79,200 Property running costs:(Tax, insurance and management costs) $15,838 Net annual rental income: $63,362 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 25% Break even in 4 Years. This property is a House for sale.
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