Four bedroom house, City of Cleveland, USA

This fantastic two apartment multi family home is located in Euclid Green right next to
South Collinwood, just a short distance from the Lakefront. It is also only two minutes
and walking distance to Euclid Park School.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. Both apartments are
currently being updated and made rental ready to a good standard and will be
completed in the next 10-12 weeks. The management company will place brand new
tenants when the new owner closes on the property paying $750 in rent each month for
each apartment.

Euclid Green is seen as a very strong investment area in Cleveland, this area is
surrounded by some great neighbourhoods like University Heights, Glenville, Richmond
Heights and South Collinwood, this property is only 1.6 miles and four minutes from
Euclid Creek Reservation, a beautiful nature trail full of natural wildlife, picnic areas and
stunning scenery. A great family area that is close to the city and yet nature is all around
you

Investment Calculation

Purchase price: $78,900

Gross annual rental income: $18,000

Property running costs: $3,712
(Tax, insurance and management costs)

Net annual rental income: $14,288

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

Return on investment: 18%