This fantastic three apartment multi family home is located on a nice street in GoodrichKirkland which is just 2 miles and walking distance to Downtown Cleveland. Properties
close to the City rarely come onto the market at the right price as there is huge potential
for future capital appreciation.
The property is split into three two bedroom apartments. Two of the apartments have
tenants in place each paying $550 in rent each month. The third apartment needs some
cosmetic repairs to be made rental ready which are included in the price and will be
completed when the new owner closes on the property. The management company will
then place brand new tenants in this apartment paying $600 in rent per month.

Goodrich-Kirkland Park is an extremely well located suburb which is just walking
distance to the centre of downtown. The property is very close to Burke Lakefront Airport
just to the North. Due to the proximity of the City and every amenity possible this area is
very highly demanded for rentals.

Investment Calculation

Purchase price: 84,900

Gross annual rental income: $20,400

Property running costs: $3,463
(Tax, insurance and management costs)

Net annual rental income: $16,937

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

Return on investment: 20%