For Sale $5,149,900
24 RES UNITS
12 x 3bedroom, 11 x 2bedroom, 1 x 1bedroom
August 1, 2020 (estimated completion date)
3 STOREY WITH ELEVATOR
30 OPEN PARKING SPOTS + VISITOR PARKING
$32,895/MONTH = $394,740/YEAR + LAUNDRY INCOME OF $800 = $9,600/YEAR
ELEVATOR, HOT WATER HEATING, 24 HYDRO METERS, COIN LAUNDRY
| Lot Size:
100′ X 349′
- TOTAL RENT
- $32, 895 / MONTH
- $394,740 / YEAR
- OTHER INCOME
- LAUNDRY = $9,600/YEAR
- TOTAL INCOME
- $404,340 / YEAR
- EXPENSES (PROJECTED):
- PROPERTY TAX – $50,000 / YEAR
- INSURANCE – $10,500 / YEAR
- WATER & SEWER – $ 21,600 / YEAR
- MANAGEMENT – $15,000 / YEAR
- HYDRO – $6,000 / YEAR
- OTHER – $28,071 / YEAR
- TOTAL – 131,171 YEAR
- ESTIMATED NET OPERATING INCOME:
- $273,169 / YEAR
- CAP RATE : 5.3%
- 24 FRIDGES
- 24 STOVES
- 24 HOOD FANS
- 24 DISHWASHERS
ATTENTION REAL ESTATE INVESTORS!
BRAND NEW MULTI-UNIT APARTMENT BUILDING! 3 storey multi-family property. BRAND NEW 24 UNIT built by a PREMIUM BUILDER with a successful portfolio!! Immediate CASH FLOW with an estimated 5.3% CAP RATE. FULLY LEASED AND READY TO GO!
Conveniently located in the very desirable town of PICTON in the extremely beautiful Prince Edward County area (if you haven’t visited this place, you need to ASAP!).
24 modern units with a mix 1, 2, & 3 bedroom units. Efficient hot water boiler system. ERV’s (energy recovery) in each unit, 24 hydro meters (tenants pay in-unit hydro costs), ELEVATOR, 30 parking spots incl. visitor and disabled parking, 40-year fiberglass shingles. Each apartment equipped with a fridge, stove, & dishwasher.
Great management team in place & existing contract can be assumed. Income generating Laundry facilities with coinamatic card operated machines. Located a short distance to grocery stores, shopping, & hospital. Income and expenses are estimated as the building is yet to be completed and operational. OWN THIS BRAND NEW ASSET TODAY!
Contact Chris today for more info on this excellent opportunity.