Amazing 6 plex investment opportunity close to GTA featuring a cap rate over 7% and room for more growth. This property has R5 zoning, offering the potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, with a six figure income there is great return on the property with market rate rents. Property was formerly the Hanover Lutheran Church, the building retains historic charm with modern upgrades, including an on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades all within the past few years. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment with the only thing missing being you! (id:63285)
| Property Details | |
|---|---|
| DDF® Number | X12819974 |
| Property Type | Multi-family |
| Building | |
|---|---|
| Age | 100+ Years |
| Cooling Type | Partially Air Conditioned |
| Fireplace Present | No |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Interior | 2806 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Land | |
|---|---|
| Acreage | No |
| Size Depth | 132 Ft |
| Size Frontage | 76 Ft ,6 In |
| Size Irregular | 76.5 X 132 Ft |
| Zoning Description | R5 |
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