Heating
Hot water baseboards (radiant) (Gas)
CASH FLOW: 9 unit apartment building in Plantagenet, ON. For sale by owner, motivated seller: I need equity for other projects. Offering at a discount, prior to listing with agent. Willing to offer VTB (secondary financing), up to 10% of purchase price, at attractive terms to qualified buyer. Well maintained, fully rented (5 year vacancy rate under 3%), full fire retrofit and zoning compliance. On site management available. A turnkey cash-flow investment property, perfect for investors looking to gain experience in multi family or for seasoned investors looking to add to a portfolio. Many major upgrades in the last 5 years including new roof, new natural gas boiler, new commercial hot water tank, new front deck and balcony, new exterior doors, re-landscaped parking area and many upgrades to units. Updated (Oct 2018) Phase 1 ESA Environmental Report Available. 7 hydrometers, currently paid by owner, opportunity to pass these costs to tenants and/or increase rents as they are currently below market. Large lot with room for 15 parking spots and 3 storage sheds/garages at the rear. On site paid laundry. Unit mix: 1x 3bdrm, 6x 2bdrm, 1x 1 bdrm, 1x Bachelor Revenue: $75,600 per year Expenses (2018 total): Heat: $2,719 Hydro: $8,044 Sewer/Water: $4,540 Municipal Tax: $4,815 Insurance: $3,153 Total: $23,271 NOI: $52,329 CAP ( asking price): 8.4%. Willing to work with Buyer's agents at 2% commission. For more information or to book a showing, please
