This large multi-family home is located in Buckeye Shaker and is only half a mlle and a short walk from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and 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 property has just been renovated from top to bottom which includes new windows, carpets and paint. The management company has tenants ready to move in that have already signed their new rental agreement and move in on July 1st 2019.
Buckeye Shaker is seen as a very strong investment area in Cleveland, just half a mile away you have the famous Shaker Square. This property is also only 5.5 miles from Downtown and 2.6 miles from the University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 43,900
Gross annual rental income: $11,400
Property running costs: $2,290
(Tax, insurance and management costs)
Net annual rental income: $9,110
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%