This fantastic two apartment multi family home is located on a nice street in South Broadway. The property is also just two minutes and less than 1 mile from Slavic Village one of the most demanded areas in Cleveland. The property is divided into two large two bedroom apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments have very good tenants in place that have been in the property over 5 years. There is also a brand new roof included in the price that will be completed when the new owner closes on the property. The property is also under management with Remax, arguably one of the best management companies in the world.
Property Details
• Four bedrooms.
• Two bathrooms.
• 1,728 sqft built.
• 2,385 sqft lot.
• Fully managed.
• Local staff.
• Garden.
• Tenanted.
Investment Calculation
Purchase price: 54,900
Gross annual rental income: $12,000
Property running costs: $2,436
(Tax, insurance and management costs)
Net annual rental income: $9,564
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years
