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Type: Investment
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Property Type: Commercial
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Business Type: Apts-6 To 12 Units
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Zoning: R1
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Age: No Data
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Taxes: 3666.24
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MLS®#: S10429453
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Days on Site: 1 Days
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Added: Nov 17, 2024 (1 month ago)
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Updated:
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Last Checked: 2 hours ago
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Listed By: IPRO REALTY LTD.
Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.
Property
Status: Sale
Type: Apts-6 To 12 Units
Property Type: Investment
Property Type: Apartment
Net Income: 66383
Area: Tay
Community: Waverley
Availability Date: TBD
Inside
Air Conditioning: Part
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Gas Forced Air Open
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2023
Taxes: $3,666
Expenses: Act
Insurance Fee: 4855
Hydro Expense: 3611
Taxes Type: Annual
Taxes: 3666
Tax Year: 2023
Land
Cross Street: 27 & 93
Municipality District: Tay
Parcel Number: 585150064
Lot Depth: 187.01 Feet
Lot Frontage: 82.51 Feet
Zoning: R1
Commercial Specific
Total Area: 4000
Total Area Metric: Sq Ft
Franchise: N
Lot Code: Lot
Financial Statement: Y
Gross Income/Sales: 81360
Hillsdale Elementary School
Elementary: PublicOur Lady of Lourdes Separate School
Elementary: CatholicWyevale Central Public School
Elementary: PublicHuron Park Public School
Elementary: PublicTay Shores Public School
Elementary: PublicHuronia Centennial Public School
Elementary: PublicGeorgian Bay District Secondary School
Secondary: PublicNorth Simcoe Campus
Secondary: PublicÉcole secondaire Le Caron
Secondary: PublicElmvale District High School
Secondary: PublicSt Joseph's Separate School
Secondary: CatholicSt Theresa's Separate School
Secondary: Catholic