3071 Mosley Street Wasaga Beach, Ontario L9Z 1W7

$2,498,000

  • Property Type: Multi-family
  • Transaction: For sale


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12 Bedroom 12 Bathroom
Baseboard Heaters

$2,498,000

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. (id:53889)

Property Details

MLS® Number S8208424
Property Type Multi-family
Community Name Wasaga Beach
Amenities Near By Beach, Public Transit
Community Features School Bus
Features Irregular Lot Size
Parking Space Total 12

Building

Bathroom Total 12
Bedrooms Above Ground 9
Bedrooms Below Ground 3
Bedrooms Total 12
Appliances Refrigerator, Stove, Two Stoves
Foundation Type Poured Concrete
Heating Fuel Electric
Heating Type Baseboard Heaters
Stories Total 2
Type Other
Utility Water Municipal Water

Land

Acreage No
Land Amenities Beach, Public Transit
Sewer Sanitary Sewer
Size Irregular 147.3 X 107.74 Ft ; 0.437 Acres
Size Total Text 147.3 X 107.74 Ft ; 0.437 Acres
Surface Water Lake/pond

Utilities

Cable Available
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    Listing Office: RE/MAX HALLMARK PEGGY HILL GROUP REALTY

    Listing Office: RE/MAX HALLMARK PEGGY HILL GROUP REALTY