Nubricks.com
Property Sales - 41696065 - House in USA, Ohio, Cuyahoga County, City of Cleveland
This fantastic three apartment multi family home is located on a nice street in Broadway/Slavic Village which is just 5 miles from DowntownCleveland. This property is also less than one mile from the centre of Slavic Village and right on the border of Newburgh Heights, a veryaffluent area of Cleveland.The property is split into three individual apartments.There are two spacious one bedroom apartments on the ground floor and one largefour bedroom apartment on the first floor. Included in the price is $25,000 for cosmetic repairs to complete the rehab and make all threeapartments rental ready. The works will begin as soon as the new owner closes on the property, when complete the management companywill place brand new vetted tenants. The one bedroom apartments should achieve $550 – $600 in rent each month and the four bedroomapartment should achieve $1,100 in rent each month. There is also 1 months rental guarantee included in the price to give the new owneran immediate rental income while the works are being completed.
Broadway/Slavic Village is viewed as a very central location in Cleveland Ohio, it is just 5 miles from Downtown and 6.7 miles fromUniversity Circle. The property is also just less than one mile from the centre of Slavic Village which is going through large developmentprojects. This is one of the most up and coming areas in the City and in huge demand by investors due to new build properties increasingthe value of the properties in the surrounding areas. The house is also just 1.3 miles from the brand new Amazon fulfilment centre and latestacquisition of the 1.273-acre site of the former Mound Elementary School on Mound Avenue at East 55th Street.
Return of investment
19%
Break even in
5.26 Years
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£45,773
Global Investments Incorporated
Date added: 11 Dec 2023
£64,456
Date added: 05 May 2024