This four bedroom multi unit is amazing value at $77,900
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Property DescriptionID:41702619
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 just 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 two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property also has tenants in place in both apartments paying $600 in rent each month. The market rent is closer to $800 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 less than 1 mile to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors
Investment Calculations
Purchase price
$77,900
Gross annual rental income:
$14,400
Property running costs:(Tax, insurance and management costs)
$3,090
Net annual rental income:
$11,310
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
15%
Break even in
6.6 Years
This four bedroom multi unit is amazing value at $77,900