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15 East Grand St,
Berea, OH 44017

$274,500 MLS: 3825232

These TWO homes on one lot is a perfect investment for those looking to own college rentals within a few minute walking distance of Baldwin Wallace. Both homes are always rented with back up lists each year. #11’s rent is $1,575 and #15’s rent is $1775. Each will be raised for the ’17-’18 school year at least an additional $75.00. So the Cap Rate and the Cash on Cash Return are very good on this property. Each property has 4-5 bedrooms with ample living space. The homes also come with a 5-stall garage for parking. This parking structure also has a large storage space and separate workspace. All of this can be rented out to the public to create even more cash flow. Unit 11 has 2 kitchens. The homes are in a condition that College attendees expect and enjoy. The courtyard in between the 2 homes is a particularly desirable selling feature. If you are looking for a great investment that you can just take over and assume management without much effort, then this a particularly good one to look into.
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