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$ 5,497,900
Est. payment | /mo
16 Baths
8,636 SqFt
$ 5,497,900
Est. payment | /mo
16 Baths
8,636 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 8636
Square Footage 8,636 sqft
Price per Sqft $636
Subdivision 4003 - Sandy Hill
MLS® Listing ID X12789414
Lot Size 8635.890 Acres
Acres 8635.89
Property Description
Welcome to 360 Friel Street an exceptional turnkey investment opportunity featuring 16 residential units with separate hydro meters, comprised of 9 fully renovated and refurbished units, 7 newly constructed additional units (recently completed). Unit Breakdown: 1 Three-Bedroom Unit, 3 Two-Bedroom Units, 2 One-Bedroom Units, 10 Studio Units. All units are fully furnished and separately metered, offering operational efficiency, reduced utility risk, and strong tenant appeal. The seller is willing to lease all units, providing investors with a stabilized, income-producing asset from day one. Income Overview Projected Residential Rental Income: $402,420.00, Parking Income: $1,800.00, Laundry Income: $3,780.00, Total Projected Gross Income:$408,000.00, Annually Projected 2026 Operating Expenses Vacancy (2%) - $8,084.00, Property Taxes (5.42%) - $21,484.00, Utilities (5.82%) - $23,064.00 (Heat, Water, Hydro) Repairs & Maintenance (4%) - $15,845.00, Property Management (3.96%) - $15,687.00, Property Insurance (6.85%) - $27,125.00Advertising (0.5%) - $1,981.00, Total Projected Operating Expenses: $113,270.00. Financial Summary - Gross Income: $408,000.00, Less Operating Expenses: $113,270.00, Estimated Net Operating Income (NOI): $294,690.00 annually. This newly completed, fully furnished multi-unit property presents a rare opportunity to acquire a modern, income-generating asset with strong projected returns and long-term growth potential. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Radiator
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Others
Virtual Tour https://my.matterport.com/show/?m=rM1UV9q66wP&mls=1
Listed by COLDWELL BANKER SARAZEN REALTY