45 Unit Apartment Building, Lake Huron Area (2 1/2 hrs. to GTA),$9M, Fully Occupied with Plenty of Parking - Ca-type-apartment-buildings

21 Jul 2022


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</style></head><body><table><tr><th class='dispLabel'>Message Number</th><td class='dispData'>408417</td>
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<tr><th class='dispLabel'>status</th><td class='dispData'>Active</td>
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<tr><th class='dispLabel'>Subject Line</th><td class='dispData'>45 Unit Apartment Building, Lake Huron Area (2 1/2 hrs. to GTA),$9M, Fully Occupied with Plenty of Parking </td>
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<tr><th class='dispLabel'>Business area</th><td class='dispData'><table class='tree1'><tr><td class='tree1'><table class='tree'><tr><td class='tree2'>Canada</td></tr><tr><td class='tree2'><table class='tree'><tr><td class='tree2'>Ontario</td></tr><tr><td class='tree2'><table class='tree'><tr><td class='tree2'>Southwestern Ontario</td></tr><tr></tr></table></td></tr></table></td></tr></table></td></tr></table></td>
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<tr><th class='dispLabel'>Have/Want</th><td class='dispData'>Have</td>
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<tr><th class='dispLabel'>Business category</th><td class='dispData'>Commercial Buildings/Hotels/Motels<br>Apartment buildings/multi unit/condo townhouse projects/investments</td>
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<tr><th class='dispLabel'>Date of Listing</th><td class='dispData'>July 21 2022</td>
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<tr><th class='dispLabel'>Type Description</th><td class='dispData'>45 Unit Apartment Building & 5 Commercial Units</td>
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<tr><th class='dispLabel'>Location</th><td class='dispData'>Walking Distance to Downtown Core</td>
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<tr><th class='dispLabel'>Price</th><td class='dispData'>$9,000,000.00</td>
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<tr><th class='dispLabel'>Size</th><td class='dispData'>45 Apts & 5 Commercial Units</td>
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<tr><th class='dispLabel'>Site area</th><td class='dispData'>1.47 Acres</td>
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<tr><th class='dispLabel'>Cap Rate</th><td class='dispData'>4.25%</td>
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<tr><th class='dispLabel'>Comments</th><td class='dispData'>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.</td>
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<tr><th class='dispLabel'>Internet Links</th><td class='dispData'></td>
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<tr><th class='dispLabel'>Member Identifier</th><td class='dispData'>382</td>
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<tr><th class='dispLabel'>Control</th><td class='dispData'>Exclusive</td>
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<tr><th class='dispLabel'>Name</th><td class='dispData'>Russell Coultrup</td>
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<tr><th class='dispLabel'>Title</th><td class='dispData'>Sales Representative</td>
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<tr><th class='dispLabel'>Company Name</th><td class='dispData'>Re/Max Land Exchange Ltd. Brokerage</td>
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<tr><th class='dispLabel'>Address Line One</th><td class='dispData'>325 Lambton St. Unit 4A</td>
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<tr><th class='dispLabel'>City</th><td class='dispData'>KINCARDINE</td>
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<tr><th class='dispLabel'>State/Province</th><td class='dispData'>Ontario</td>
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<tr><th class='dispLabel'>Zip/Postal Code</th><td class='dispData'>N2Z  0E3</td>
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<tr><th class='dispLabel'>Country</th><td class='dispData'>Canada</td>
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<tr><th class='dispLabel'>Business Phone Number</th><td class='dispData'>(519)396-5062</td>
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<tr><th class='dispLabel'>Email Address</th><td class='dispData'><a href='https://www.iciworld.com//emailForm.jsp?mid=382&subject=45+Unit+Apartment+Building%2C+Lake+Huron+Area+%282+1%2F2+hrs.+to+GTA%29%2C%249M%2C+Fully+Occupied+with+Plenty+of+Parking+'>Send Email</a></td>
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<tr><th class='dispLabel'>Home Page</th><td class='dispData'><a name='' href='http://www.remaxlandexchange.ca' target='_blank'>Home&nbsp;Page</a></td>
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</table><p><a href="https://www.iciworld.com/testimonials">See the testimonials from connections made by placing Haves and Wants through ICIWorld.</a></p>
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