Added 2 days ago
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Type: Investment
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Property Type: Commercial
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Zoning: CD 1.3
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Age: No Data
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Taxes: 16500
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MLS®#: X11922880
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Days on Site: 1 Days
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Added: Jan 13, 2025 (2 days ago)
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Updated:
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Last Checked: 9 hours ago
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Listed By: ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Looking for an incredible investment opportunity that offers an over 11% direct cap rate, over 20% Return on Equity and contributes to the overall housing crisis in Ontario--look no further, this is the one. As an owner operator, in partnership with the City of Windsor, you will provide supportive housing services to individuals who are at risk of being homeless. This recession proof business/operation provides subsidized financial support via a license with the City of Windsor as well as private supportive housing services to individual tenants. Licensed for 32 beds (17 subsidized with the City of Windsor plus 15 private beds) this facility/operation has an over 95% occupancy rate and strong financials. With approximately 4656 sq ft of well-maintained interior and exterior features this property boasts the following: 11925 sq ft lot (119x110), newer windows (main and 2nd floor), updated roof (5 yrs), sprinkler system, 6 washrooms, forced air heating and cooling, 200 amp service panel and 10 bedrooms (shared). Conveniently located in Windsor's historic Walkerville neighborhood, this property offers seamless access to public transit right at your doorstep and is well-connected to major roads.The City of Windsor designates the property part of the Commercial District area that permits both residential and neighbourhood commercial uses. The zoning By-law classifies 511 Devonshire Road as CD1.3
Property
Status: Sale
Property Type: Investment
Property Type: Apartment
Area: Windsor
Availability Date: Anytime
Inside
Air Conditioning: N
Utilities
Utilities: Yes
Building
Heat Type: Gas Forced Air Open
Energy Certificate: N
Green Verification Status: N
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Fees
Tax Year: 2024
Tax Legal Description: Lot 2 Blk F Plan 211 Sandwich East; Lt 4 Blk F PL
Taxes: $16,500
Taxes Type: Annual
Land
Cross Street: Wyandotte St E and D
Municipality District: Windsor
Parcel Number: 011340111
Lot Depth: 100.33 Feet
Lot Frontage: 119.73 Feet
Zoning: CD 1.3
Commercial Specific
Total Area: 4600
Total Area Metric: Sq Ft
Office Size: 4600
Office Size Metric: Sq Ft
Area Influence: Major Highway
Area Influence: Public Transit
Lot Code: Lot
École élémentaire L'Envolée
Elementary: PublicKing Edward Public School
Elementary: PublicPrince Edward Public School
Elementary: PublicSt Anne French Immersion Catholic School
Elementary: CatholicFrank W Begley Public School
Elementary: PublicGiles Campus French Immersion Public School
Elementary: PublicCentre de formation pour adultes
Secondary: CatholicF J Brennan Catholic High School
Secondary: CatholicW. F. Herman Academy Secondary School
Secondary: PublicCatholic Central
Secondary: CatholicHon W C Kennedy Collegiate Institute
Secondary: PublicWalkerville Collegiate Institute
Secondary: Public
