Size
20473 sqft
Lot size
1943.53 sqm
Street frontage
E
Possession
-
Price per sqm
$578
Taxes
$8,208 (2023)
Parking Type
Detached Garage
Style
-
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Description
Want a cash flowing property that meets the 1% rule with room to lift value further? What will the property cash flow produce as interest rates decline? Seller also willing to hold a second VTB mortgage to cover your down payment. This building currently has 8 units and is zoned for 10 residential apartments. There is current space enough to build 2 more 1 bedroom apartments inside the existing unused space. Unit 4 is also under rented for additional lift. Most units have been upgraded to some degree and have great tenants in place. Weeping tile done on north and east side in 2023 resolving water penetration, original building has rock foundation and the addition built in approx 1987. Double garage with a large shed like structure attached to it at the rear of the property. Rents are all inclusive but each unit has its own hydro panel in the unit. 2 furnaces, 2 AC, 2 hot water on demand rental units, shingles in great shape but age unknown and right beside new OPP station. Beer store, downtown, food and LCBO within walking range and bonus Mattawa river within a couple blocks of the building also.
Broker: REALTY EXECUTIVES Local Group Inc. Brokerage
MLS®#: 40603811
Property details
Parking:
20
Parking type:
Detached Garage
Property type:
Multiplex
Heating type:
Forced Air
Style:
-
MLS Size:
571 sqm
Lot front:
39.93 M
Lot depth:
48.16 M
Listed on:
Jun 11, 2024
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