If you've been searching for the perfect opportunity to enter the investment market, this property could be your ideal match. Priced competitively, this legal, non-conforming all-brick triplex offers a gross income of $41,086 and an impressive 8% cap rate. The property is centrally located offering easy access to shopping, schools, and a full range of amenities. Its prime location along a public transit route makes it an excellent choice for tenants without vehicles. The main floor features a recently renovated, vacant 3-bedroom unit, ready for new tenants or an owner looking to live on-site while benefiting from rental income. The second-floor 2-bedroom unit and third-floor bachelor unit are both occupied by reliable long-term tenants. For added peace of mind, each unit is separately metered. The partially finished basement offers added storage for the owners belongings. Overall this property offers everything you need to start your rental property portfolio. Coin Operated Laundry generates approx. $1000 annually. Rents are: Bachelor:$717(inclusive of Hydro), 2 Bed: $841+Hydro, 3 Bed (projected as currently vacant): $1,850+Hydro. (id:4069)
Address
147 SECOND AVENUE E
List Price
$320,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Area
Ontario
Sub-Area
North Bay (central)
Bedrooms
5
Bathrooms
1
Floor Area
2,100 Sq. Ft.
Lot Size
33 x 132 FT Sq. Ft.
MLS® Number
X12125002
Listing Brokerage
REALTY EXECUTIVES Local Group Inc. Brokerage
Postal Code
P1B1L3
Zoning
R3
Site Influences
Highway, Public Transit
