Fourteen bedroom house, City of Cleveland, USA

This fantastic opportunity to purchase am eight apartment residence located in
University Heights which is arguably one of the nicest suburbs in Cleveland. The
property is also only 1 mile and 4 minutes to John Carroll University.
The property is split into two, one bedroom apartments and six, two bedroom
apartments. All 8 apartments have tenants in place. The rental income is as follows :
Unit 1 $625, Unit 2 $725, Unit 3 $700, Unit 4 ( Sec 8 ) $716, Unit 5 ( Eden ) $650, Unit 6
$650, Unit 7 $700, Unit 8 ( Sec 8 ) $551
The current market rental for 1 beds are $750 & 2 beds $850 each month so should a
tenant leave the rent could be increased.

Originally Idlewood Village, this eastern Cleveland suburb was renamed University
Heights in 1925 in honour of one of its most notable landmarks, John Carroll University.
The neighborhood boasts historic architecture and the proximity to shopping, groceries
and local eateries. This is a desirable part of Cleveland for inverstors asa the city is
looking forward to redevelopment at University Square with new apartments and retail.

Investment Calculation

Purchase price: 649,900

Gross annual rental income: $63,804

Property running costs: $15,579
(Tax, insurance and management costs)

Net annual rental income: $48,225

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

Return on investment: 8%