Added On :
City of Cleveland, USA
15 Sep 2019
£ 33,066 / € 36,824 / $ 44,900
This large four bedroom multi unit is a rare find at $44,900...
This large four bedroom multi family home is located in North Broadway which is just 3.9 miles from Downtown Cleveland. This property is also just 1 mile from Slavic Village one of the most demanded areas in Cleveland. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments are in a good condition and the total rent is $12,600 per year. This property is under management by one of the leading Cleveland property management companies.
North Broadway is viewed as a very central location in Cleveland Ohio, it is just 3.9 miles miles from Downtown and 5 miles from University Circle. The property is also just 0.7 miles from Slavic Village. Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.
Purchase price: 44,900
Gross annual rental income: $12,600
Property running costs: $9,757
(Tax, insurance and management costs)
Net annual rental income: $2,843
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%