Five bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 5 Bed Townhouse £63,340 | €75,125 | $82,900 Request a Currency Exchange Quote Here

This huge five bedroom multi unit is amazing value at $82,900...

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:38475753

This large multi-family brick house is located on a nice street in Mount Pleasant and is just five minutes from Shaker Heights High School, which is one of the best high schools in Cleveland. The property is divided into three large apartments, you have two large two bedroom apartments and a large one bedroom apartment. The property is currently being renovated and will come with three new furnaces, three new hot water tanks, a new roof, new glass blocks and new windows. The total rent per month will be $1,800 and the management company will be placing brand new tenants when the new owner closes on the property.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.9 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 7.5 miles from Downtown and 4.8 miles from the University Circle.

Investment Details

Purchase price: 82,900

Gross annual rental income: $21,600

Property running costs: $4,560
(Tax, insurance and management costs)

Net annual rental income: $17,040

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 21%

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