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):
Municipal Tax: $4,815
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).
0 sq. ft. (0 m2)
- High School
- Primary School
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