This large two apartment house is located on a nice street in the sought after area of
Glenville, just three minutes and less than a mile from Glenville High School which is
one of the best schools in Cleveland. The property has six large bedrooms, two
bathrooms and a full basement.
This property has long term tenants in place in one apartment paying $600 in rent
each month. The second apartment has just become vacant and will be provided
rental ready to a great standard by the seller. The works are included in the price.
The management company will place brand new tenants as soon as the works are
finished paying $650 each month in rent.

Glenville is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for
bus lines, bike trails, and allows access to the beach parks in the neighbourhoods on
the Northside. It is also just 4.7 miles from Downtown and just 2.3 miles from the
University Circle.

Investment Calculation

Purchase price: 77,900

Gross annual rental income: $15,000

Property running costs: $2,549
(Tax, insurance and management costs)

Net annual rental income: $12,451

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 16%