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This fantastic two apartment multi family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and only a short walk to Collingwood High School, one of the best schools in Cleveland. The property is divided into two large apartments, you have a large three bedroom apartment downstairs and a large four bedroom apartment upstairs which is complete with a finished attic. The property has new furnace, hot water tank, plumbing drain lines, kitchen and bathroom, security doors and windows. The management company will place a brand new tenants when the new owner closes on the property paying $750 in rent each month. South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is just 0.7 miles and walking distance to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors Investment Calculation Purchase price: 74,900 Gross annual rental income: $18,000 Property running costs: $3,388 (Tax, insurance and management costs) Net annual rental income: $14,612 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 20% Break even in 5 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 7, Number of Bathrooms: 2