Under $100,000/Suite! Exceptional Opportunity To Acquire 22-Unit Rental Complex In Colborne, Ontario. Significant Rental Upside As 15 Years Rent Control Under Forgivable Rrap Conversion Loan Completed In April 2022. Fully-Occupied With 19 Studio Suites And 3 X 1-Brm Suites On 2.05 Acres With Ample Parking. Offering Memorandum Available On Request. Access To Due Diligence Material Is Available To Prospective Purchasers Who Complete The Confidentiality Agreement Available At Https://Ontarioapartmentgroup.Ca/Ca/123-King/
Extras
Included: 2 Coin Washers, 2 Coin Dryers, 22 Fridges, 22 Stoves, All Contents Of Tool Room Except For Owner's Personal Property.
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Detailed Information
Freestanding
Y
Lot
161.7 x 552 ft
Total Area
13,028 ft2
Approximate Age
51-99
Air Conditioning
N
Basement
Y
Garage Type
Outside/Surface
Parking Spaces
22
Heat Type
Gas Hot Water
Gross Income/Sales
$194,128
Net Income Before Debt
$72,159
Hydro Expense
$13,370
Water Expense
$2,472
Heat Expenses
$12,273
Insurance Expense
$13,840
Management Expense
$7,611
Operating Expenses
$121,969
Taxes Expense
$30,422
Other Expenses
$18,298
Year Expenses
$2,023
Expenses Actual/Estimated
Est
% Building
100
Sprinklers
N
Sewers
Sanitary
Utilities
Y
Water
Municipal
Vacancy Allowance
3883
Lot/Bldg/Unit Code
Lot
Zoning
Residential 3-5 (R3-5)
Seller Property Info Statement
N
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