Nubricks.com

Property Sales - 41695275 - House in USA, Ohio, Cuyahoga County, City of Cleveland

<< Back to search results

Eight bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
Price :
House
41695275
City of Cleveland, USA
11 Jul 2023
£ 80,591 / € 92,064 / $ 94,900

Short Description

This huge multi unit house is a rare find at $94,900..

Key Information

  • Property ID: 41695275
  • Location: City of Cleveland
  • Property Type: House
  • Prices: £ 80,591 / € 92,064 / $ 94,900

Full Description

This fantastic two apartment multi-family home is located in the sought after area of Glenville,
just a short walk from Glenville High School which is one of the best schools in Cleveland.
The property is divided into two large four bedroom townhouses sitting side by side. The
tenants are moving out of the property and the house will be vacant before the new owner
closes. Both apartments are in great condition however Included in the price are funds for
cosmetic repairs to make both apartments rent ready to a Section 8 standard. The works will
begin as soon as the new owner closes on the property. When complete the management
company will place brand new tenants. Each apartment should achieve $1,000 – $1,250 The
tenants can either be private or Section 8 housing, the decision will be for the new owner.

Glenville 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 4.5 miles from Downtown and just
2 miles from the University Circle. The house is within Greater Circle Living (GCL) which is a part
of the larger Greater University Circle Initiative, comprehensive community-building and
development strategy for rental and purchase housing options in Greater University Circle
neighbourhood’s.

Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$25,634
Property running costs:(Tax, insurance and management costs)
$4,366
Net annual rental income:
$21,268
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

27%

Break even in

3.7 Years.

Contact the Advertiser

Property Alerts

  • House
  • 8 bedrooms
  • USA
  • City of Cleveland
Note: You can 'widen' the alert by clicking on items in the above list to remove them

Useful Services

CAPTCHA Send my request

Related Properties

© 2005-2013 nubricks.com The Overseas Property Blog. All Rights Reserved
Nubricks.com, 24 Jacks Place, Shoreditch London, E1 6NN, United Kingdom