| Annual Gross Rent | $47.160 |
|---|---|
| Management Fee | $4.716 |
| Property Tax | $1.140 |
| Insurance | $1.000 |
| Net Annual Income | $40.304 |
| Net Return on Investment (ROI) | %27 |
|---|---|
| Payback Period | 3.7 yrs |
This fantastic three apartment multi family home is located in the sought after area
of Glenville, just 1.8 miles to the centre of University Circle. Properties in this location
are now becoming very desirable among residents and professionals alike. Many
Doctors and Nurses are living in this area due to the proximity to the Cleveland
Clinic.
The property is divided into three large 2 bedroom apartments. All 3 apartments will
be renovated by Global Investments best contractors and will be supplied rent ready
to a Section 8 standard. The works will begin after the new owner closes on the
property. When complete the management company will place brand new vetted
tenants. Each apartment should achieve $1,000 – $1,310 in rent each month with
Section 8 housing based on current rates for this zip code.
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