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$1,799,900
Est. payment /mo
18 Beds
6 Baths
6,288 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 6,288 sqft
Price per Sqft $286
Subdivision 140 - Beasley
MLS® Listing ID 40792459
Bedrooms 18
Lot Size 871 Sqft
Acres 0.02
Property Sub-Type Freehold
Source Cornerstone Association of REALTORS®
Property Description
Prime Downtown Development Gem & Income Producer •Unmissable Opportunity: Secure a high-performing asset with unparalleled future upside. This is a rare chance to acquire six side-by-side townhouses in a prime downtown location, offering immediate and significant cash flow from day one. •Zero-Friction Income: Enjoy a massive annual net operating income (NOI) of $121,397 (Gross Income: $142,692). Tenants cover all utilities directly, ensuring minimal landlord overhead. Plus a CAP RATE of 6.8%. •Ideal Units: Each unit is a desirable 3-bedroom townhome with a private, fenced backyard, attracting and retaining quality long-term tenants. •Immediate Access: Unit #171 is vacant and ready for viewing—see the potential for yourself. •Zoning already in place: The property already holds downtown zoning approval for an ambitious seven-story mixed-use development. Skip the complex initial rezoning phase and move straight to planning. •Expansion Ready: The buyer has the option to pursue severance to create six individual standalone properties, or inquire about acquiring neighboring properties (potentially the entire block) for a transformative large-scale project. •Vibrant Location: The surrounding area is a diverse, high-demand community, perfectly positioned for a dynamic Live-Work-Play concept that integrates modern residential units with ground-floor commercial space. •Act Now! Whether you're seeking a strong cash-flowing asset or a large-scale development platform, this property delivers (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling None
Exterior
Parking Features No
Community Features High Traffic Area, Community Centre
View Y/N No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
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Listed by Right at Home Realty
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Muhamed Awada
Real Estate Agent | License ID: 4726552
Real Estate Agent License ID: 4726552