Seven bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 7 Bed House £105,219 | €120,198 | $123,900 Request a Currency Exchange Quote Here

This huge multi unit is amazing value at $123,900

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Property Description ID:41696961

This huge multi-family home is located in the highly sought after area of Woodhill Homes, it is just
one street away from the bustling Larchmere Blvd. This area is undergoing a major redevelopment
from modern state of the art condo blocks to newly built homes, some of the best new restaurants
in Cleveland have opened in this area. The main reason for this is the location, this area is on the
door step of the Cleveland Clinic and just a few minutes away from Shaker Square, its also just a
few miles from the University Circle, some new houses in this area are selling for over $400,000.
This fantastic property has three floors of living space, on the top two floors you have a five
bedroom duplex apartment, this apartment is tenanted by a Section 8 tenant, their rent is $1,200
per month, on the ground floor is a large two bedroom apartment, this tenant is a private tenant
and they pay $750 per month. This is one of the best properties we have received in Cleveland this
year and it has huge potential for future capital growth, this area is just going to keep getting better.

Woodhill Homes is seen as a very strong investment area in Cleveland, this area is surrounded by
many of Cleveland biggest attractions, close by you have Shake Square, the University Circle and
the Cleveland Clinic, this property could not be better located for long term renting.

 

Investment Calculations
Purchase price
$123,900
Gross annual rental income:
$23,400
Property running costs:(Tax, insurance and management costs)
$5,340
Net annual rental income:
$18,060
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years

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