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 less than 1 mile 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. Both apartments will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The property comes with a 2 month rental guarantee to give the new owner an immediate income while the repairs are being completed. The house also comes with a brand new roof, new siding and all new windows. When complete the management company will place brand new vetted tenants. Each apartment should achieve $1,000 – $1,250 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
$119,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$5,585
Net annual rental income:
$25,415
Investment calculation - Net Income divided by Purchase price = NET ROI.