Added On :
City of Cleveland, USA
19 Nov 2018
£ 34,861 / € 39,749 / $ 44,900
This large four bedroom multi unit is amazing value at $44,900...
This large multi-family home is located in Mount Pleasant and is only eight minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema. Both apartments are tenant occupied and are being kept in great condition. It has also been recently refurbished including a new roof, updated kitchens and new hot water tanks, the total rent is $12,000 per year . This property is under management by one of the leading Cleveland property management companies
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 6.7 miles from Downtown and 4.6 miles from the University Circle
Purchase price: 44,900
Gross annual rental income: $12,000
Property running costs: $2,925
(Tax, insurance and management costs)
Net annual rental income: $9,075
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%