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$619,900
234 Alfred St Plantagent, ON SIGN # 330073

Description

CASH FLOW: 9 unit apartment building in Plantagenet, ON.

For sale by owner, motivated seller: I need equity for other projects. Offering at a discount, prior to listing with agent. Willing to offer VTB (secondary financing), up to 10% of purchase price, at attractive terms to qualified buyer.

Well maintained, fully rented (5 year vacancy rate under 3%), full fire retrofit and zoning compliance. On site management available. A turnkey cash-flow investment property, perfect for investors looking to gain experience in multi family or for seasoned investors looking to add to a portfolio.

Many major upgrades in the last 5 years including new roof, new natural gas boiler, new commercial hot water tank, new front deck and balcony, new exterior doors, re-landscaped parking area and many upgrades to units. Updated (Oct 2018) Phase 1 ESA Environmental Report Available.

7 hydrometers, currently paid by owner, opportunity to pass these costs to tenants and/or increase rents as they are currently below market. Large lot with room for 15 parking spots and 3 storage sheds/garages at the rear. On site paid laundry.

Unit mix: 1x 3bdrm, 6x 2bdrm, 1x 1 bdrm, 1x Bachelor

Revenue: $75,600 per year

Expenses (2018 total):

Heat: $2,719
Hydro: $8,044
Sewer/Water: $4,540
Municipal Tax: $4,815
Insurance: $3,153
Total: $23,271

NOI: $52,329

CAP (@ asking price): 8.4%. Willing to work with Buyer's agents at 2% commission.

For more information or to book a showing, please contact Marco at 613-897-7829 (call/txt).

Property Details

  • Property Type:
    Townhouse
  • Property Use:
    Commercial
  • Exterior:
    Aluminum
  • Levels:
    2
  • Space:
    0 sq. ft. (0 m2)
  • Foundation:
    Poured Concrete
  • Basement:
    Finished
  • Garage:
    Multi-Vehicle
  • Driveway:
    Gravel
  • Parking Spaces:
    15
  • Heat Method:
    Boiler
  • Heat Source:
    Natural Gas
  • Zoning:
    9 unit
  • Lot Dimensions:
    230x70
  • Water Source:
    Municipal
  • Waste Water:
    Public Sewer

Location Details

Education
  • High School
  • Primary School
Religion
  • Church

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