2880 sqft
Fully Air Conditioned
Baseboard Heaters
$1,350,000
Looking for a turn key investment? Only 20 years old, this is an exceptional purpose built 5-plex with very low maintenance costs, featuring four 2-bedrooms units and 1 bachelor unit, all with 1 kitchen and 1 full bathroom. Occupied with triple A tenants, this property yields very strong cash flow ($92,400), resulting in an excellent cap rate. All units have all been beautifully renovated with commercial grade flooring (2023), new kitchens (2023) and bathrooms (2023). An easy building to maintain with a steel roof, vinyl siding, new breaker panels and separate hydro meters for all tenants, and low operating costs ($17,653). Baseboard heating in bedrooms & heat/air conditioner unit in the living rooms. Located right across the street from the lake, and conveniently located just minutes from Hwy 12 and downtown Orillia, this is an opportunity to buy and benefit from the revitalization of Orillia. Financials Attached. (id:53889)
Business
| BusinessType | Residential |
| BusinessSubType | Apartments |
Property Details
| MLS® Number | S11981384 |
| Property Type | Multi-family |
| Community Name | Orillia |
| AmenitiesNearBy | Highway, Public Transit |
Building
| Age | 16 To 30 Years |
| Appliances | Hood Fan, Stove, Refrigerator |
| CoolingType | Fully Air Conditioned |
| HeatingType | Baseboard Heaters |
| SizeInterior | 2880 Sqft |
| Type | Multi-family |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| LandAmenities | Highway, Public Transit |
| SizeDepth | 135 Ft |
| SizeFrontage | 90 Ft |
| SizeIrregular | 90 X 135 Ft |
| SizeTotalText | 90 X 135 Ft |
| ZoningDescription | C41 |
Listing Office: IPRO REALTY LTD.