Message Number421298
Subject Line45 Unit Apartment Building & 5 Commercial Units, Lake Huron Area (2 1/2 hrs. to GTA),$8,950,000.00, Fully Occupied with Plenty of Parking
Business area
Southwestern Ontario
Business categoryCommercial Buildings/Hotels/Motels
Apartment buildings/multi unit/condo townhouse projects/investments
Date of ListingNovember 22 2023
Type Description45 Unit Apartment Building & 5 Commercial Units
LocationWalking Distance to Downtown Core
Size45 Apts & 5 Commercial Units
Site area1.47 Acres
Cap Rate5.25%
CommentsWell-maintained 45 suite apartment building close to downtown core. Consists of 25 - 2 bedroom and 20 - 1 bedroom apartments plus 5 well-established commercial units. This 3 story building with ample parking sits on 1.47 Acres and has been owned and maintained by the same family since being built in 1980. Updated elevator, alarm system, windows, balcony doors, kitchens & bathrooms. Occupied by long-term, mature residents. On-site laundry facilities and residents lounge. Currently fully rented with typical zero vacancy and a waiting list. Located in an area with strong residential rental demand. Current rents are under market value and incoming new tenants are paying 40% increase. Viewings to be arranged following acceptance of an Agreement of Purchase and Sale.
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NameRussell Coultrup
TitleSales Representative
Company NameRe/Max Land Exchange Ltd. Brokerage
Address Line One325 Lambton St. Unit 4A
Zip/Postal CodeN2Z 0E3
Business Phone Number(519)396-5062
Email AddressSend Email
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