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Property Sales - 41699783 - House in USA, Ohio, Cuyahoga County, City of Cleveland

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Six bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
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House
41699783
City of Cleveland, USA
20 Dec 2023
£ 71,250 / € 81,393 / $ 83,900

Short Description

This six bedroom multi unit is amazing value at $83,900..

Key Information

  • Property ID: 41699783
  • Location: City of Cleveland
  • Property Type: House
  • Prices: £ 71,250 / € 81,393 / $ 83,900

Full Description

This large brick built multi-family home is located on a very nice street in Woodland Hills,
just 2 miles from the famous Shaker Square, one of the biggest attractions in Cleveland.
Shaker Square is full of restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large three bedroom
apartment and another large three bedroom apartment sitting side by side. Both
apartments have tenants in place paying $700 in rent each month. The current market rent
for the apartments is closer to $750 – $950 each month. Included in the price are the funds
for a brand new roof whcih will be completed after the new owner closes on the property.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from
Downtown Cleveland, just 3 miles from the University Circle & only 2 miles from Shaker
square. There are many new built homes being built in this area, increasing the value or
surrounding properties with a good potential for capital appreciation. New builds are
selling for over $300,000.

Investment Calculations
Purchase price
$83,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$3,080
Net annual rental income:
$13,720
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

17%

Break even in

5.8 Years.

Contact the Advertiser

Property Alerts

  • House
  • 6 bedrooms
  • USA
  • City of Cleveland
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