| Message Number | 410408 | ||||||
|---|---|---|---|---|---|---|---|
| status | Active | ||||||
| Subject Line | 45 Unit Apartment Building, Lake Huron Area (2 1/2 hrs. to GTA),$9M, Fully Occupied with Plenty of Parking | ||||||
| Business area |
|
||||||
| Have/Want | Have | ||||||
| Business category | Commercial Buildings/Hotels/Motels Apartment buildings/multi unit/condo townhouse projects/investments |
||||||
| Date of Listing | October 24 2022 | ||||||
| Type Description | 45 Unit Apartment Building & 5 Commercial Units | ||||||
| Location | Walking Distance to Downtown Core | ||||||
| Price | $9,000,000.00 | ||||||
| Size | 45 Apts & 5 Commercial Units | ||||||
| Site area | 1.47 Acres | ||||||
| Cap Rate | 4.25% | ||||||
| Comments | Well-maintained 45 suite apartment building close to downtown core. Consists of 25 - 2 bedroom and 20 - 1 bedroom apartments plus 5 well-established commercial units. This 3 story building with ample parking sits on 1.47 Acres and has been owned and maintained by the same family since being built in 1980. Updated elevator, alarm system, windows, balcony doors, kitchens & bathrooms. New roof scheduled for Summer 2022. Occupied by long-term, mature residents. On-site laundry facilities and residents lounge. Currently fully rented with typical zero vacancy and a waiting list. Located in an area with strong residential rental demand. Current cap rate 4.25% as per Oct. 2021 AACI appraisal. Current rents are under market value and incoming new tenants are paying 20% increase. | ||||||
| Internet Links | |||||||
| Member Identifier | 382 | ||||||
| Control | MLS | ||||||
| Name | Russell Coultrup | ||||||
| Title | Sales Representative | ||||||
| Company Name | Re/Max Land Exchange Ltd. Brokerage | ||||||
| Address Line One | 325 Lambton St. Unit 4A | ||||||
| City | KINCARDINE | ||||||
| State/Province | Ontario | ||||||
| Zip/Postal Code | N2Z 0E3 | ||||||
| Country | Canada | ||||||
| Business Phone Number | (519)396-5062 | ||||||
| Email Address | Send Email | ||||||
| Home Page | Home Page |
See brokers making 10x to 4,000x the ICIWorld membership fee.
Provided By The ICIWorld Global Association of Real Estate Brokers and Salespeople Founded 1994. Mailing Address: 131 Bloor St. W., Suite 200, Toronto, Ontario M5S 1R8 Canada 416-777-2633. USA 954-317-2327
Unsubscribe option at the bottom of this EMail