Solid investment opportunity for the savvy investor! Priced at 6.4 cap with present-day NOI (current appraisal on file). Room to grow top line revenue on turnover (14 of 20 units remain rented under market rates). Consists of 2 buildings each with 10 units (7 x 2-bedrooms and 3 x 1-bedrooms) for a total of 20 units. Individual units registered as condos (but not operated as such), which opens interesting options for future exit strategies for the experienced investor. All units are individually metered for both heat (natural gas), hydro and equipped with A/C units. Low maintenance units with ceramic and laminate flooring throughout. Interior storage units available for each unit and plenty of parking. Built in 2015. Meticulously managed property by owner operators with pride of ownership.
RUSSELL STANDARD CONDOMINIUM PLAN NO. 68 AND ITS APPURTENANT INTEREST SUBJECT TO EASEMENTS AS SET OUT IN SCHEDULE A AS IN RC143182 CITY OF CLARENCE-ROCKLAND
Occupancy
Tenant
Possession Date
Flexible
Taxes (2023)
$42,675
Directions/Cross Streets
Take Russell Road East until you reach the village of Cheney
Neighbourhood
607 - Clarence/Rockland Twp
Area
Prescott and Russell
Price History
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Freestanding
Y
Lot
255.63 x 254.84 ft
Air Conditioning
Y
Parking Spaces
40
Amps
400
Volts
240
Heat Type
Gas Hot Water
Gross Income/Sales
$370,404
Net Income Before Debt
$290,310
Water Expense
$5,716
Insurance Expense
$10,073
Operating Expenses
$80,094
Expenses Actual/Estimated
Est
Sewers
Septic Avail
Water
Municipal
Zoning
RV2-10
Seller Property Info Statement
N
The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.