This huge four apartment multi-family home is located in the sought after area of
Glenville, just five minutes from Glenville High School which is one of the best
schools in Cleveland. The property is also very well positioned, directly opposite the
Cleveland Metroparks lakefront, a beautiful nature reserve.
The property is divided into four large two bedroom apartments. All four apartments
now have tenants in place and the total monthly rental income is $2,900 per month.
The house is under management with a great local Cleveland property management
Glenville is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for
bus lines, bike trails, and allows access to the beach parks in the neighbourhoods
on the Northside. It is also just 4.3 miles from Downtown and just 1.9 miles from the
Purchase price: 169,900
Gross annual rental income: $34,800
Property running costs: $7,140
(Tax, insurance and management costs)
Net annual rental income: $27,660
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years