This huge four apartment house is located on a nice street in Saint Clair- Superior just 2.8 miles from Downtown Cleveland. Saint Clair-Superior is close to the great lake, borderline lake properties offer lots of potential for future growth. This is arguably one of the best properties Global Investments have seen this year. The property is divided into four large two bedroom apartments. All four apartments have just been refurbished including new kitchens, bathrooms, carpets and paint throughout. The property comes with new tenants ready to move in shortly and each tenant will be paying $600 per month.
Saint Clair-Superior is viewed as an up and coming area in Cleveland due to its close proximity to the lake, it is also just 2.8 miles from Downtown and 2.9 miles from University Circle. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 109,900
Gross annual rental income: $28,800
Property running costs: $6,380
(Tax, insurance and management costs)
Net annual rental income: $22,420
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%