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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision West End
MLS Listing ID X12411443
Annual Tax Amount $15,533
Tax Year 2025
Property Sub-Type Investment
Property Description
Turnkey Investment opportunity with main floor 3 commercial/industrial units plus 5 residential apartments fully updated and turn key. Zoned M-2, this building has seen numerous upgrades to each residential unit plus a fire retrofit inspection 2024, updated hot water boiler in 2017. Residential apartments are 2x3 bedrooms and 3x2 bedrooms, all of which have seen large renovations and updates including kitchens, bathrooms, flooring, lighting, trim, 4 built in all in one laundry machines and most windows. The 3 commercial industrial units are 2075 Sqft, 1700 sqft and 700 sqft with high ceilings and 3 grade loading doors. Whole building is gas hot water and tenants rents are all inclusive except for the hydro cost. Actual Income and expense sheet available including management fees on the residential units, vacancy and maintenance allowances. Other supporting documentation upon request, legal non conforming building, Gross Income $175113 with Net income $115,928 and a Cap Rate of 7.73 including vacancy, utilities, taxes, maintenance and a 7% property management line. A detailed income and expense statement is available, additional supporting documentation provided upon request.
Location
State ON
County Nipissing
Community West End
Area Nipissing
Zoning M2
Interior
Cooling No
Inclusions Carbon Monoxide Detector, Hot Water Tank Owned, Smoke Detector, 5 fridges, 5 stoves, 4 built in all in one laundry machines
Exterior
Community Features Major Highway, Public Transit
Utilities Available Yes
Lot Frontage 164.7
Lot Depth 37.03
Building
Building Age 51-99
Others
Security Features No
ParcelsYN No
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
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