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
Lot
100 x 149.75 ft
Listing Contract Date
2023-12-05
Location Description
From Highway 11 turn on Dupont
# of Parking Spaces
6
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
R3
Building
Appliances
Furniture
Foundation Type
Unknown
Heating Fuel
Natural gas
Heating Type
Forced air
Type
Other
Utility Water
Municipal water
Land
Total Size
100 x 149.82 FT | under 1/2 acre
Sewer
Sanitary sewer
Size of Irregular Land
100 x 149.82 FT
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