Brick Apartment Buildings. 12-Units total. A BIG 2024 Investment Opportunity. Mixed-Use Income Units: 9 Residential & 3 Commercial facing Quaint Downtown Main Street. Well-updated & proudly commanding a 75 ft swath of frontage in the bustling downtown & historic King Street E in Colborne, ON. Historic buildings have modern updates including large cement patio terrace in front w/ contemporary railings. Tin ceiling & wood banister & heritage details add character. Well-Updated & maintained sited on a large lot w/ so much parking. Full basement houses mechanicals, 10yrs new furnace & sep. meters + lots of storage. Well-tenanted (2 Res being re-rented.) BONUS! Sale includes solid income from the only Public Laundromat Business in the vicinity including all machines. Superintendent onsite in exchange for partial rent abatement. Separate Electrical Meters. Good Commercial tenants: Retail, Office. Excellent Turnkey Income generating! *Prof. Photos to Come* Fire retrofit/update in process.
Extras
Furnace 10 years. Windows: 2016-2019. Common Area updated. Some Waterproofing/Repair to exterior '23. Cement Patio, Railings. Roof in good shape Steel w/Spray Foam. Sep Metres. Income & Expense Sheet available.
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
Bathrooms
12
Lot
75 x 167.22 ft
Lot Irregularities
See Attachments
Total Area
0.36 acres
Air Conditioning
Part
Garage Type
None
Parking Spaces
12
Heat Type
Elec Forced Air
Gross Income/Sales
$219,977
Net Income Before Debt
$169,856
Hydro Expense
$3,703
Water Expense
$8,095
Heat Expenses
$4,014
Insurance Expense
$10,198
Management Expense
$9,812
Operating Expenses
$50,122
Taxes Expense
$16,311
Year Expenses
$2,023
Expenses Actual/Estimated
Est
Outside Storage
N
Area Influences
Rec Centre
Sewers
San+Storm
Utilities
Y
Water
Municipal
Crane
N
Survey
N
Lot/Bldg/Unit Code
Lot
Zoning
VC
Seller Property Info Statement
N
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