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8 + 3
BEDROOMS6
BATHROOMS6
KITCHENS23
ROOMSX9388173
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-10-08 | 2025-01-30 | 114 | $1,099,000 | - | Expired |
| 2024-07-10 | 2024-10-10 | 92 | $1,299,000 | - | Terminated |
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Property Description
Purpose Built All Brick 6 Unit Apartment Building With A Metal Roof. 3 Storey Walk Up Consists Of 5 Spacious 2-Bedroom Units And A 1-Bedroom Apartment. Laundry Room On Lower Level, Coin Operated. Separate Hydro Meters So All Rents Are Plus Hydro. Quiet Location In The East End Near A School And Shopping.Gross Income Approximately $64,476.00. Huge Upside Potential On The Tents Of Approximately $47,064.00 Which Adds About $800,000.00 In Value To The Property. Income And Expenses Information Available In The Documents.
Extras
Don't Miss Out On This Huge Potential, This New Price Of $1,099,000 Is A Reduction Of $200,000 From Previous Listing.
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This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio. (39879369)
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