Six bedroom house, City of Cleveland, USA

This fantastic large two apartment multi family home is located on a nice street in South Broadway
which is just 4.6 miles from Downtown Cleveland. This property is also just one minute and just a
short walk to the centre of Slavic Village one of the most demanded areas in Cleveland.
The property is split into two large three bedroom apartments. The property has just had a brand
new roof with a warranty and the basement waterproofed. One fo the apartments has a tenant in
place renting on a month to month basis paying $600 each month. The back unit is vacant and
90% complete from being updated and rent ready. The funds to complete the final cosmetic
repairs are included in the price and will begin after closing. When completed the management
company will place brand new tenants. The apartment should achieve $750 in rent each month.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.6 miles miles
from Downtown and 5.3 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: $69,900

Gross annual rental income: $16,200

Property running costs: $3,720
(Tax, insurance and management costs)

Net annual rental income: $12,480

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

Return on investment: 18%