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$ 999,900
Est. payment | /mo
15 Beds
8 Baths
5,000 SqFt
$ 999,900
Est. payment | /mo
15 Beds
8 Baths
5,000 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 - 100000
Square Footage 5,000 sqft
Price per Sqft $199
Subdivision Mattawa
MLS® Listing ID X13634476
Bedrooms 15
Property Description
Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? This building has a strong occupancy history plus a 8.69% cap rate including vacancy, maintenance and management expenses. Gross income 137,885.88, net income 86,849. This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments. With interior existing unused space, there's potential to add 2 additional 1-bedroom units-a built-in value-add opportunity or a 3 bedroom unit. Unit 4 is currently under-rented, providing additional upside. Most units have already seen upgrades and are occupied by great tenants. Recent capital improvements include new weeping tile (2023) on the north and east sides, resolving previous water penetration concerns. The original structure features a solid rock foundation, while the addition (c. 1987) provides a purpose built 6 unit addition. Other highlights include a double garage with an attached outbuilding for extra storage, two furnaces, two A/C units, and two hot water on-demand rental systems. Each unit has its own hydro panel and current rents are all-inclusive. Roof shingles are in excellent condition (age unknown).The location is unbeatable being located right beside the new OPP station, and within walking distance to downtown amenities including the Beer Store, LCBO, restaurants, and the Mattawa River just a couple of blocks away. Management company willing to stay on. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features Yes
Community Features School Bus
View Y/N No
Attached Garage No
Total Parking Spaces 22
Garage Yes
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
NEARBY SCHOOL & BUSINESS
#200 - 7404 King George Blvd, Surrey, BC, V3W 1N6, CAN