This large multi-family home is located in Mount Pleasant and is only seven 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.
The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs.
This property has good tenants in place that are both paying $750 in rent each month. The property is managed by a great local management company.
Property Details
• Four bedrooms.
• Two bathrooms.
• 2,090 sqft built.
• 5,985 sqft lot.
• Fully managed.
• Local staff.
• Garden.
• Tenanted.
Investment Calculation
Purchase price: 55,900
Gross annual rental income: $18,000
Property running costs: $3,600
(Tax, insurance and management costs)
Net annual rental income: $14,400
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 26%
Break even in 3.84 Years