Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 6.5% cap rate and just $90,000 per unit. Take advantage of flexible financing with a potential first-position VTB available ideal for investors looking to maximize leverage. The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting. (id:61256)
| MLS® Number | S12496654 |
| Property Type | Multi-family |
| Community Name | Coldwater |
| Cooling Type | Partially Air Conditioned |
| Heating Type | Baseboard Heaters |
| Size Interior | 6,000 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Frontage | 66 Ft ,11 In |
| Size Irregular | 66.95 Ft |
| Size Total Text | 66.95 Ft |
| Zoning Description | C2+ep |
https://www.realtor.ca/real-estate/29054081/28-coldwater-road-w-severn-coldwater-coldwater
Contact us for more information
Andrew Odoardi
Salesperson
(866) 530-7737
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