6501 Highway 93 N/A

6501 Highway 93 N/A
6501 Highway 93 N/A
6501 Highway 93 N/A
+32
7
 bed
6
 bath
12
 parking
3500 - 5000
 sqft
Multiplex
$980,000
For Sale
154 days
 on site
$980,000
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Size
-
Lot size
15334 sqft
Street frontage
-
Possession
2024-11-01T00:
Price per sqft
$196 - $280
Taxes
$3,666.24 (2023)
Parking Type
-
Style
1 1/2 Storey
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Description
Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.
Broker: IPRO REALTY LTD.
MLS®#: S9859924
Property details
Parking:
12
Parking type:
-
Property type:
Multiplex
Heating type:
Forced Air
Style:
1 1/2 Storey
MLS Size:
3500-5000 sqft
Lot front:
82 Ft
Lot depth:
187 Ft
Listed on:
Oct 28, 2024
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Instant estimate:
orto view instant estimate
$33,428
lower than listed price
i
High
$993,900
Mid
$946,572
Low
$899,243

About 6501 Highway 93 N/A

6501 Highway 93 N/a is an Elmvale multiplex for sale. It has been listed at $980000 since October 2024. This multiplex has 7 beds, 6 bathrooms and is 3500-5000 sqft.

For those that love cooking, Foodland is a 9-minute drive.

Living in this multiplex is easy. There is also Waverley (SB) Bus Stop, not far, with route Barrie - Midland-penetanguishene nearby.