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Property Sales - 41637245 - Townhouse in USA, Ohio, Cuyahoga County, City of Cleveland

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Twelve bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
Price :
Townhouse
41637245
City of Cleveland, USA
21 May 2022
£ 460,206 / € 512,507 / $ 624,900

Short Description

This huge multi unit house is a rare find at $624,900..

Key Information

  • Property ID: 41637245
  • Location: City of Cleveland
  • Property Type: Townhouse
  • Prices: £ 460,206 / € 512,507 / $ 624,900
  • Detatched
  • Garden
  • On Street Parking
  • Outside Space

Full Description

This fantastic opportunity to purchase a very large twelve apartment multi family
residence located in one of the nicest parts of Hough. Hough is a very demanded
area in Cleveland due to its close proximity to the University Circle, the entrance is
less 1.5 miles away.
The property is divided into twelve large one bedroom apartments. Seven of the
apartments have Veteran tenants in place & 2 additional Veteran tenants are moving
onto 2 apartments very shortly. The rents for these apartments are paid direct to the
landlord via the City fo Cleveland. The 3 remaining apartments have private tenants in
place. The rent for these 3 apartments could be increased as they are rented below
market value. Due to the location of this property, Air B&B would also be a very viable
option that could generate substantially more rental income.

Hough 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 1.5 miles from
the University Circle. This property is walking distance to the Cleveland Clinic main
Campus.

 

Investment Calculation

Purchase price: 624,900

Gross annual rental income: $79,800

Property running costs: $16,980
(Tax, insurance and management costs)

Net annual rental income: $62,820

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

Return on investment: 11%

Break even in 9.09 Years

Contact the Advertiser

Property Alerts

  • Townhouse
  • 10 bedrooms
  • USA
  • City of Cleveland
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