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This huge six apartment multi-family home is located is in the highly sought after area of Mount Pleasant less than six minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland, it is full of restaurants, bars, boutiques and even has a cinema. The property is divided into six large apartments, you have five large two bedroom apartments and one large one bedroom apartment. The building is currently undergoing a $37,000 refurbishment and all six apartments will be tenanted before you close on the property. This is an incredible investment opportunity if you are looking for a high income producing property in Cleveland, this property is under management by one of the leading Cleveland property management companies.
Mount Pleasant is viewed as a very central location in Cleveland Ohio, it is just 6.7 miles from Downtown Cleveland, just 4.2 miles from the University Circle & only 1.6 miles from Shaker square. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Investment Details
Purchase price: 120,000
Gross annual rental income: $36,000
Property running costs: $7,898
(Tax, insurance and management costs)
Net annual rental income: $28,102
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 24%
This property is a Townhouse for sale.

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