| Annual Gross Rent | $33.708 |
|---|---|
| Management Fee | $3.371 |
| Property Tax | $241 |
| Insurance | $1.000 |
| Net Annual Income | $29.096 |
| Net Return on Investment (ROI) | %21 |
|---|---|
| Payback Period | 4.8 yrs |
This large multi-family home is located on a nice street in St.Clair-Superior which is
just 2.4 miles to Downtown Cleveland. Properties close to the City rarely come onto
the market at the right price as there is huge potential for future capital appreciation
The property is divided into two large apartments. You have a large two bedroom
apartment downstairs and a large three bedroom apartment upstairs. Both 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. The 2 bed should achieve $1,000 – $1,250 in rent each month and the 3 bed
$1,200 – $1,559 in rent each month based on current Section 8 rates for this zip code.
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