Great value Cleveland deal
Great Deal. Triplex Plus Single Family Home. 23.04% NET Yield. This is a fantastic opportunity to acquire a unique deal in Cleveland comprising of a triplex and single family home on one lot.
The main building (triplex) has two 2 bedroom units and 1 bedroom efficiency/studio in the basement. To the rear of the lot is a 3 bedroom, 2 bathroom single family home and a 4 car garage with it's own utilities which could also be rented or used for owner's storage. There have been a number of recent updates which include some newer windows, newer Hot Water tanks, some newer furnaces. All separate utilities.
The property is located in the North Collinwood district, a great up and coming district near 56th and Waterloo art's district.
Built in 1920, this well maintained property totals 3,426 square foot on a lot of 6,534 square foot. The majority of the units are already let and the remainder will be let prior to the closing/completion of the sale in the next couple of weeks to ensure 100% occupancy from day one.
A Home Inspection Report and copies of all the leases will be provided between reservation and closing.
This property is sure to be sold quickly so please complete the Enquiry Form as soon as possible if you are interested and one of the team will be in touch with you by return.
Unlike many of our competitors, we take into account all closing and ongoing costs to give you a genuine net yield!
Purchase Price: $79900
Fixed Closing Costs: $3,500 (Optional title insurance, pro rata share of property taxes will be extra)
TOTAL OUTLAY: $83,400
RENTAL INCOME: $25,080
Property Taxes: $1,800
TOTAL OUTGOINGS: $5,868
NET INCOME: $19,212
THE NET YIELD IS THEREFORE A FANTASTIC 23.04%
Please contact us for further information or to reserve this property.