Eight bedroom house, City of Cleveland, USA

This fantastic large four apartment multi family home is located on a nice street in South
Broadway which is just 5 miles from Downtown Cleveland. This property is also just two
minutes and walking distance to the centre of Slavic Village one of the most demanded
areas in Cleveland.
The property is split into four apartments. You have two large two bedroom apartments
downstairs and two large two bedroom apartments upstairs. The property has tenants in
place in each apartment paying $600 in rent each month. The market rent is currently
$750 so should any tenant leave the rent could be increased. The house is under
management with a local Cleveland property management company.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 5 miles
miles from Downtown and 5 miles from University Circle. The property is also just a short
walk to the centre of Slavic Village. Slavic Village is going through large development
projects with many new build homes also being built on vacant plots. This is one of the
most up and coming areas in the City and in huge demand by investors.

Investment Calculation

Purchase price: $144,900

Gross annual rental income: $28,800

Property running costs: $5,023
(Tax, insurance and management costs)

Net annual rental income: $23,777

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

Return on investment: 17%