Phenomenal 7% Cap Rate, Turnkey 10-unit apartment building presents a rare investment opportunity in a prime location, surrounded by ongoing development and poised for future growth. The property features a diverse unit mix, including 4 one-bedroom, 1 two-bedroom, 3 three-bedroom, and 2 four-bedroom units. Over $235,000 has been invested in extensive capital improvements, including a New Roof & Windows, renovations to 4 units with new plumbing, kitchens, bathrooms, flooring, appliances, and finishes, upgrades to the common areas and outdoor stairwells, installation of new high-efficiency laundry facilities, and stucco restoration and exterior refinishing. Hydro is separately metered, with some tenants paying their own and others having it included in rent. Offering solid cash flow from day one with a strong rental upside, located in a rapidly developing area with excellent long-term growth potential. (id:4069)
Address
65 GLENELG STREET W
List Price
$1,499,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Transaction Type
sale
Area
Ontario
Sub-Area
Kawartha Lakes (lindsay)
Floor Area
8,731 Sq. Ft.
Lot Size
112.2 x 137.34 FT ; 112.20' X 137.34' Sq. Ft.
MLS® Number
X12158767
Listing Brokerage
MYSAK REALTY INC.
Postal Code
K9V2V5
Zoning
M1
