Talk about an income opportunity with a cap rate over 10%. 61,092$ Gross income per year. Approximately 21,879$ expenses per year. Approximately 39,212$ net operation income per year. 3-unit apartment building with a storage garage. Unit-A has 4 bedrooms. Unit-B has 2 bedrooms. Unit-C has 3 bedrooms. All 3-units have basements for extra storage with there own forced air furnaces installed in 2018, and laundry areas with washers and dryers. Appliances for all units are included. Most large furniture and televisions in unit-A are included. Landlord presently supplies internet to the tenants. Utilities are included in the rents. 2021 the 3 hot water tanks were eliminated to update pluming and have 1 hot water on demand system to supply all 3 units. 2022 hydro was updated to go from 3 meters to 1 meter, the electrical stack coming in to the building was updated, the main 200-amp electrical panel was updated to breaker system. The roof shingles and front eaves were completed approximately 6 years ago. Back eaves were completed in 2022. Building has 2 sump pumps. With the potential of nickel mines opening in the near future in the surrounding area this could be a great investment opportunity. (id:47423)
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Listed By
RE/MAX CROWN REALTY (1989) INC
Data Provided By
Timmins, Cochrane & Timiskaming District Association of REALTORS®
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Detailed Information
Communication Type
High Speed Internet
Listing Contract Date
2023-12-05
Location Description
From Highway 11 turn on Dupont
Municipal ID
651970835
Property Type
Multi-family
Storage
Storage Shed
Transaction Type
For sale
Building
Basement Type
Full
Constructed Date
1964
Cooling Type
Central air conditioning
Heating Type
Forced air
Stories Total
1
Type
Multi-Family
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Gravel
Utilities
Type
Description
Cable
Available
Electricity
Available
Natural Gas
Available
Telephone
Available
Land
Total Size
0.33 acres
Access Type
Road access
Sewer
Municipal sewage system
Size of Irregular Land
0.33
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