| Annual Gross Rent | $42.960 |
|---|---|
| Management Fee | $4.296 |
| Property Tax | $1.052 |
| Insurance | $1.000 |
| Net Annual Income | $36.612 |
| Net Return on Investment (ROI) | %24 |
|---|---|
| Payback Period | 4.1 yrs |
This fantastic three apartment multi family home is located on a nice street in
Forest Hills close to the shores of Lake Erie and is just 1.3 miles from Glenville
High School, one of the best schools in Cleveland.
The property is divided into three large apartments. You have a large two
bedroom apartment on the 1 and 2 Floor plus an additional 1 bedroom attic
apartment. 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 2 bed
apartment should achieve $1,000 – $1,310 in rent each month and the attic
apartment should acheive $700 – $960 each month with Section 8 housing.
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