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This large multi-family house is located on a nice street in Mount Pleasant and is only 2.9 miles from the famous Shaker Heights High School. Shaker Heights is one of the most demanded and prestigious areas in Cleveland. The property is divided into three large apartments, you have two large two bedroom apartments and a large one bedroom apartment in the attic. The management company will place brand new tenants into each apartment after the closing. The two bed apartments will rent between $550-$650 per month and the one bed attic apartment will rent between $500-$550 per month. Mount Pleasant is seen as a very strong investment area in Cleveland, just 1.7 miles away you Shaker Square which is one of the biggest attractions in Cleveland. The house is also close to the famous Shaker Heights, one of the most desirable areas in Cleveland. The house is just 2.9 miles from Shaker Heights High School. Investment Calculation Purchase price: 83,900 Gross annual rental income: $22,200 Property running costs: $3,673 (Tax, insurance and management costs) Net annual rental income: $18,529 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 22% Break even in 4.54 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 5, Number of Bathrooms: 3