EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 5.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision.
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
Fronting On
S
Property Features
Beach, Lake/Pond, Public Transit, School Bus Route
Special Designations
Unknown
Bedrooms
9+3
Bathrooms
12
Rooms
39
Kitchens
9+3
Lot
147.3 x 107.74 ft
Lot Irregularities
0.437 Acres
Approximate Square Footage
5000+
Approximate Age
51-99
Exterior
Board/Batten
Air Conditioning
None
Family Room
N
Fireplace/Stove
N
Pool
None
Basement
None
Drive
Available
Garage Spaces
0.0
Garage Type
None
Parking Spaces
12
Total Parking Spaces
12.0
Heat Source
Electric
Heat Type
Baseboard
Sewers
Sewers
Utilities-Cable
A
Utilities-Telephone
A
Water
Municipal
Zoning
R4
Seller Property Info Statement
N
Bathrooms
Pieces
Level
4
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