For Sale $2,690,000 - Multi-Family
12 RES UNITS
2 x 3bedroom, 9 x 2bedroom, 1 x 1bedroom
FEBRUARY 20, 2020 (estimated completion date)
3 STOREY WITH ELEVATOR
20 OPEN PARKING SPOTS + VISITOR PARKING
$16,620/MONTH = $199,440/YEAR + LAUNDRY INCOME OF $3000 = $202,440/YEAR
ELEVATOR, HOT WATER HEATING, 12 HYDRO METERS, COIN LAUNDRY
| Lot Size:
100′ X 220′
- 9 X 2BEDROOM UNITS RENTED AT $1395/MONTH
- 2 X 3BEDROOM UNITS RENTED AT $1495/MONTH
- 1 X 1BEDROOM UNIT RENTED AT $1075/MONTH
- TOTAL RENT
- $16,620 / MONTH
- $199,440 / YEAR
- OTHER INCOME
- LAUNDRY = $3,000/YEAR
- TOTAL INCOME
- $202,440 / YEAR
- EXPENSES (PROJECTED):
- PROPERTY TAX – $17,500 / YEAR
- INSURANCE – $4,900 / YEAR
- WATER & SEWER – $ 3,500 / YEAR
- HEAT – $3,200 / YEAR
- MANAGEMENT – $4,882 / YEAR
- HYDRO – $2,200 / YEAR
- OTHER – $10,834 / YEAR
- TOTAL – 47,016
- ESTIMATED NET OPERATING INCOME:
- $155,424 / YEAR
- CAP RATE : 5.8%
- 12 FRIDGES
- 12 STOVES
- 12 HOOD FANS
- 12 DISHWASHERS
BRAND NEW BUILDING! 3 storey multi-family property. Under Construction BRAND NEW 12 UNIT built by a PREMIUM BUILDER with a successful portfolio!! Immediate CASH FLOW with an estimated 5.9% CAP RATE. COMPLETION expected Feb 1, 2020.
Conveniently located in the growing town of Winchester just south of Ottawa, 2KM from HOSPITAL.
12 modern units with a mix 1, 2, & 3 bedroom units. Efficient hot water boiler system. ERV’s (energy recovery) in each unit, 12 hydro meters (tenants pay in-unit hydro costs), ELEVATOR, 20 parking spots incl. visitor and disabled parking, 40-year fiberglass shingles. Each apartment will be equipped with a fridge, stove, & dishwasher.
Great management team in place & existing contract can be assumed. Income generating Laundry facilities with coinamatic card operated machines. Located a short distance to grocery stores, shopping, & hospital. Income and expenses are estimated as the building is yet to be completed and operational. OWN THIS BRAND NEW ASSET TODAY!
Contact Chris today for more info on this excellent opportunity.