6501 Highway 93

6501 Highway 93
6501 Highway 93
6501 Highway 93
+32
7
 bed
6
 bath
12
 parking
3500 - 5000
 sqft
Multiplex
$980,000
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$980,000
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Size
-
Lot size
1433.49 sqm
Street frontage
E
Possession
ASAP
Price per sqm
$2,108 - $3,015
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.

EXTRAS:
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:
325-465 sqm
Lot front:
25.3 M
Lot depth:
57 M
Listed on:
Oct 29, 2024
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Instant estimate:
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$99,265
lower than listed price
i
High
$924,772
Mid
$880,735
Low
$836,699
Magda Smith
Broker
Property.ca Inc., Brokerage
© Property.ca Inc., Brokerage
MLS#: S9859924
Listed by IPRO REALTY LTD.

About 6501 Highway 93

6501 Highway 93 is an Elmvale multiplex for sale right off Hwy 93 and Vasey Rd.. It has been listed at $980000 since October 2024. This multiplex has 7 beds, 6 bathrooms and is 3500-5000 sqft.

Nearby grocery options: Foodland is a 9-minute drive.

If you are reliant on transit, don't fear, 6501 ON-93, Tay has a public transit Bus Stop (Waverley (SB)) not far. It also has route Barrie - Midland-penetanguishene close by.