Discover an outstanding residential and commercial investment in Russell, boasting a spacious 4800 sqft all brick building with a basement area. Currently, the main floor hosts four leased commercial units, while upstairs features three apartments: two 2-bedroom and one 3-bedroom. The basement includes pay laundry facilities and individual storage lockers for each unit. With a large heat pump boiler system ensuring efficiency, this property offers 26 parking spots and a compelling 5.9% cap rate. Gross Operating Income stands at $122,118 (excluding Commercial HST), with Operating Expenses of $33,401.15, resulting in a Net Operating Income of $88,716.85 (excluding Commercial HST). Commercial AC Units x 4 replaced in 2022. With its prime location and high rental demand, this investment opportunity in Russell is not to be missed. Schedule a viewing today to secure your position in this flourishing market. (id:47423)
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Detailed Information
Lot
125 x 100 ft
Listing Contract Date
2024-02-23
Management Company
N/A -
Municipal ID
690730501
Ownership Type
Freehold
# of Parking Spaces
26
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
471
Building
Constructed Date
1995
Cooling Type
Central air conditioning
Exterior Finish
Brick
Foundation Type
Poured Concrete
Heating Fuel
Natural gas
Heating Type
Forced air, Heat Pump
Stories Total
2
Utility Water
Municipal water
Land
Total Size
125 ft X 100 ft
Sewer
Municipal sewage system
Size of Irregular Land
125 ft X 100 ft
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