This large multi-family home is located in Buckeye Shaker and is only two minutes 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 been made rental
ready and had many recent upgrades including new electrics and water heaters for both
apartments, the property comes with tenants already in place. Thew downstairs tenant is
paying $605 in rent each month and the upper apartment is paying $550 in rent each month.
The property is managed by a great local management company.
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 6 miles from Downtown and
3.3 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: 69,900
Gross annual rental income: $13,860
Property running costs: $3,343
(Tax, insurance and management costs)
Net annual rental income: $10,517
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%Break even in 6.6 Years