$2,675,000 FOR SALE

Investment

Lot: 75 x 167.22 ftTotal Area: 0.36 acres
2023 Taxes: $16,311.14Maintenance Fees: $3,000

33-39 King St E
Cramahe, ON K0K 1S0 | Colborne | Northumberland

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.

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Listed By CENTURY 21 ALL-PRO REALTY (1993) LTD.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X7401576
Last Updated Apr 30, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
PIN 511410412
Occupancy Tenant
Possession Date TBD
Taxes (2023) $16,311.14
Tax Type Annual
Maintenance Fees $3,000
Directions/Cross Streets King St E & Maybee
Neighbourhood Colborne
Area Northumberland
Price History
Interested in obtaining the full price history for this property?
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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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