This large multi-family home is located in Buckeye Shaker and is only five minutes from 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. This property is tenant occupied and both tenants are keeping the property in great condition. Both tenants are paying $550 in rent each month. The property is managed by a great local management company.
Property Details
• Four bedrooms.
• Two bathrooms.
• 1,850 sqft built.
• 4,922 sqft lot.
• Fully managed.
• Local staff.
• Garden.
• Multi unit.
Investment Calculation
Purchase price: 57,900
Gross annual rental income: $13,200
Property running costs: $2,660
(Tax, insurance and management costs)
Net annual rental income: $10,540
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years
