This huge multi-family home is located in the highly sought after area of Buckeye Shaker and is than two minutes from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two very large apartments, you have a large three bedroom apartment downstairs and a large three bedroom apartment upstairs. Both apartments are tenant occupied and the rent is $1,000 per month. This property is under management by a great local property management company.
Buckeye Shaker is seen as a very strong investment area in Cleveland, Only half a mile away you have the famous Shaker Square which is one of the biggest attractions in Cleveland.
Purchase price: 44,900
Gross annual rental income: $12,000
Property running costs: $2,662
(Tax, insurance and management costs)
Net annual rental income: $9,338
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%