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37 photos
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$3,495,000
Est. payment /mo
23 Beds
12 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 - 100000
Subdivision Ferris
MLS® Listing ID X14101536
Bedrooms 23
Property Description
Turnkey investment opportunity with strong cash flow located on a quiet street just off Lakeshore dr. Total of 12 Units (11-2 Bedrooms/1-1 Bedroom) This turnkey 12-unit residential purpose built complex delivers immediate cash flow and has seen major renovations to every unit including all kitchens, bathrooms, flooring, trim, lighting, paint and more. Cap rate at 6.27%, Gross rental income is $305,709.12 with expenses (including management, vacancy, and maintenance) estimated at $86,470, resulting in a solid net income before financing of $219,239. Other notable features are: All rents plus hydro, hot water boiler system, 13 parking spaces and security doors. Within walking distance bus route on Lakeshore dr, restaurants, shopping mall, Shoppers Drug mart, Cineplex and Lake Nipissing access close by. Immediate cash flow after mortgage payment plus significant principle recapture makes this a solid investment opportunity. Photos are previous to tenants moving in. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features No
Fence Partially fenced
Community Features Community Centre, School Bus
View Y/N No
Attached Garage No
Total Parking Spaces 13
Garage No
Private Pool No
Building
Story 3
Sewer Sanitary sewer
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Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
NEARBY SCHOOL & BUSINESS
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Muhamed Awada
Real Estate Agent License ID: 4726552
Real Estate Agent License ID: 4726552