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 5.7 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 apartments. You have a large three bedroom apartment downstairs
and a large three bedroom apartment upstairs. Both apartments are in the process of being
updated to a good standard and made rental ready. The remaining cosmetic repairs will be
completed after the new owner closes on the property. When completed the management
company will place bran new vetted tenants. Each unit should achieve $800 in rent each month.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 5.7 miles miles
from Downtown and 5.6 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: $79,900

Gross annual rental income: $19,200

Property running costs: $3,646
(Tax, insurance and management costs)

Net annual rental income: $15,554

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

Return on investment: 20%