33-39 King Street East, Cramahe | Image 1

33-39 King Street East

Cramahe, Colborne

  • Commercial

$2,435,000
For Sale

Added 4 months ago

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  • Type: Investment

  • Property Type: Commercial

  • Business Type: Apts-6 To 12 Units

  • Zoning: Village Commerci

  • Age: No Data

  • Taxes: 16311.14

  • MLS®#: X9265679

  • Days on Site: 116 Days

  • Added: Aug 22, 2024 (4 months ago)

  • Updated:

  • Last Checked: 3 hours ago

  • Listed By: RE/MAX JAZZ INC.

Exceptional investment opportunity in a prime downtown location! This nearly 10,000 sq ft mixed-use property features 9 residential and 3 commercial units, with 7 units currently tenanted. The two vacant residential units are being renovated for increased rental potential. Includes a fully operational, cash-generating Laundromat the only one in town owned by the seller. Zoned Village Commercial (VC), this property offers diverse usage options, with separate electrical panels for each unit. Ample owned and municipal parking available. Known as one of the nicest multi-residential buildings in town, it has a history of natural tenant turnover every 2-4 years, keeping rents competitive. Don't miss out on this rare opportunity!

Extras

An excellent opportunity to separate the laundromat and sell that business. Further utility separation could explode your NOI and offer a huge bump in valuation.

Property

  • Status: Sale

  • Type: Apts-6 To 12 Units

  • Property Type: Investment

  • Property Type: Apartment

  • Net Income: 161179

  • Area: Cramahe

  • Community: Colborne

  • Availability Date: FLEXIBLE

Inside

  • Air Conditioning: N

Utilities

  • Utilities: Yes

Building

  • Heat Type: Baseboard

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: None

Fees

  • Tax Year: 2023

  • Taxes: $16,311

  • Expenses: Est

  • Management Expense: 14707

  • Insurance Fee: 10198

  • Operating Fees: 71148

  • Hydro Expense: 7184

  • Heat Expenses: 3131

  • Other Expenses: 2000

  • Taxes Type: Annual

  • Tax Year: 2023

  • Water Fees: 8425

Land

  • Cross Street: King St E and Maybee

  • Municipality District: Cramahe

  • Parcel Number: 511410412

  • Lot Depth: 167 Feet

  • Lot Frontage: 75 Feet

  • Zoning: Village Commerci

Additional Media

  • Virtual Tour: https://youtu.be/pL4ZJNAMjrk

Commercial Specific

  • Total Area: 0.36

  • Total Area Metric: Acres

  • Lot Code: Lot

  • Financial Statement: N

  • Gross Income/Sales: 237843

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Map of 33-39 King Street East, Cramahe
JK-8

Colborne School

Elementary: Public
0.57 km
JK-8

Spring Valley Public School

Elementary: Public
13.25 km
JK-8

St. Mary Catholic Elementary School

Elementary: Catholic
10.89 km
JK-8

Grafton Public School

Elementary: Public
11.00 km
JK-8

Northumberland Hills Public School

Elementary: Public
10.81 km
JK-8

Brighton Public School

Elementary: Public
12.99 km
9-12

St Paul Catholic Secondary School

Secondary: Catholic
25.07 km
9-12

Campbellford District High School

Secondary: Public
34.56 km
9-12

Trenton High School

Secondary: Public
25.67 km
9-12

St. Mary Catholic Secondary School

Secondary: Catholic
22.76 km
9-12

East Northumberland Secondary School

Secondary: Public
13.15 km
9-12

Cobourg Collegiate Institute

Secondary: Public
21.78 km
128 Purdy Road, Cramahe | MLS: X9255488
For Sale
4 months ago
$1,902,000
  • 0 bath
  • 0 bed

128 Purdy Road, Cramahe, Ontario • K0K 1S0 • Colborne