Ten bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41694042

Summary Data

Price £132,394
Price Type
Bedrooms 10 - Bed
Bathrooms 5 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

A Great opportunity to purchase two large multi family homes at a discounted price sitting side by side located in a nice street in the Cleveland
suburb of Hough. Hough is a very demanded area in Cleveland due to its close proximity to the University Circle, and also the centre of downtown
Cleveland.
6808 Whitney Avenue is a large two apartment multi family home. There are tenants in place in each apartment. The apartment downstairs is
paying $700 in rent each month and the apartment upstairs is paying $650 in rent each month. The seller would consider selling this property
separately for $74,900
6812 Whitney Avenue is a large three apartment multi family home. Two apartments have tenants in place each paying $550 in rent each month.
The third apartment is vacant. The management company will place a brand new tenant when the new owner closes on the property. The apartment
should achieve $750 in rent each month. $750 is the current market rent so should any tenant leave the rent could be increased. The seller would
consider selling this property separately for $89,900.

Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway It is also just 2
miles from the University Circle. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of
the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art, plus many more. The two houses are also just 2.5 miles from
Cleveland State University in Downtown Cleveland, an 85 acre campus offering more than 200 undergraduate and graduate programs to over 11,000
students.

Investment Calculations
Purchase price
$155,900
Gross annual rental income:
$38,400
Property running costs:(Tax, insurance and management costs)
$6,552
Net annual rental income:
$31,848
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

21%

Break even in

4.76 Years

No investment data available