Added 1 week ago
-
Type: Investment
-
Property Type: Commercial
-
Business Type: Apts-2 To 5 Units
-
Zoning: R2-1
-
Age: 100+ years
-
Taxes: 6522.17
-
MLS®#: X11893746
-
Added: Dec 16, 2024 (1 week ago)
-
Updated:
-
Last Checked: 1 hour ago
-
Listed By: RE/MAX JAZZ INC.
Unlock the potential of this legal 4-plex, offering over 3,500 sq. ft. (MPAC) of rentable space in a high-demand location. Featuring two spacious two-bedroom units and two one-bedroom units, each self-contained, this property provides immediate income-generating potential. Tenants are vacating and the building could use some renovations, presenting a clear value-add opportunity for savvy investors willing to renovate and maximize returns. Located in historic downtown Port Hope, tenants benefit from walkable access to amenities, shops, cafes, and public transit, including VIA Rail and Highway 401ideal for attracting a broad tenant base. The property includes a rear addition overlooking a peaceful ravine, adding appeal to attract quality tenants. Whether you're expanding your portfolio or seeking a repositioning project, this property's size, location, and configuration make it a rare find. With strong rental demand in one of Ontario's most desirable small towns, this is a smart investment ready for its next chapter.
Extras
With renovations of kitchens, bathrooms and flooring this building has significant potential for high rents and low expenses, an investment with this type of opportunity is a rare find. There is rough-in for laundry in the utility room.
Property
Status: Sale
Type: Apts-2 To 5 Units
Property Type: Investment
Property Type: Apartment
Age: 100+
Net Income: 53853
Area: Port Hope
Community: Port Hope
Availability Date: Immediate
Inside
Air Conditioning: N
Utilities
Utilities: Available
Building
Heat Type: Radiant
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2024
Taxes: $6,522
Expenses: Est
Management Expense: 6912
Insurance Fee: 2324
Operating Fees: 29955
Hydro Expense: 505
Heat Expenses: 6590
Other Expenses: 2000
Taxes Type: Annual
Taxes: 6522
Water Fees: 2509
Land
Cross Street: Walton/Pine
Municipality District: Port Hope
Parcel Number: 510710405
Lot Depth: 95.7 Feet
Lot Frontage: 52.18 Feet
Zoning: R2-1
Commercial Specific
Total Area: 9558
Total Area Metric: Sq Ft Divisible
Lot Code: Lot
Vacancy Allowance: 3
Gross Income/Sales: 86400
Dale Road Senior School
Elementary: PublicDr M S Hawkins Senior School
Elementary: PublicBeatrice Strong Public School
Elementary: PublicTerry Fox Public School
Elementary: PublicGanaraska Trail Public School
Elementary: PublicSt. Anthony Catholic Elementary School
Elementary: CatholicClarke High School
Secondary: PublicPort Hope High School
Secondary: PublicKenner Collegiate and Vocational Institute
Secondary: PublicHoly Cross Catholic Secondary School
Secondary: CatholicSt. Mary Catholic Secondary School
Secondary: CatholicCobourg Collegiate Institute
Secondary: Public
