This five bedroom multi unit is amazing value at $78,900..
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Property DescriptionID:41698433
This large multi-family home is located in Buckeye Shaker and is only four minutes and walking distance from the centre of 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. The property also has tenants in place in both apartments one paying $600 in rent and the other paying $650 in rent each month. The market rent is closer to $750 – $800 in rent each month. The seller has asked not to disturb the tenants so interior picture will be supplied on inspection prior to contract. Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1 mile away you have the famous Shaker Square. The house is also just 1 mile to Larchmere Blvd which is host to a multitude of many quality cafe’s, restaurants, beauty salons, fashion shops and many small businesses. This house is extremely well located.
Investment Calculations
Purchase price
$78,900
Gross annual rental income:
$15,000
Property running costs:(Tax, insurance and management costs)
$3,244
Net annual rental income:
$11,756
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
15%
Break even in
6.6 Years
This five bedroom multi unit is amazing value at $78,900..