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This fantastic two apartment multi family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and two minutes and walking distance to Collingwood High School, one of the best schools in Cleveland. The property is split into two, three bedroom apartments side by side. The property has new windows throughout and also new Vinyl siding. There are good tenants in place in both apartments and the total rental income is $1,325 each month.The property is under management by a great local Cleveland management company.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is just 0.5 miles and walking distance to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors.
Investment Calculation
Purchase price: 68,900
Gross annual rental income: $15,900
Property running costs: $3,290
(Tax, insurance and management costs)
Net annual rental income: $12,610
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years
This property is a Townhouse for sale.

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