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Royal LePage
Royal LePage
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$1,300,000

Hanover ON, N4N 1T8

MLS® # X12436997

Property Information:

Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Other
  • Air Conditioning: Yes
  • Amenities: Separate Hydro Meters, Separate Heating Controls
  • Basement Development: Finished
  • Basement Type: Full
  • Exterior Finish: Brick
  • Floor Space: 2500 - 3000 sqft
  • Foundation Type: Stone
  • Heating Type: Other
  • Cooling Type: Window air conditioner
  • Appliances: Water meter, Water Treatment, Stove, Refrigerator

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 6+2
  • Bathrooms: 6
  • Features: Carpet Free
  • Floor Space (approx): 2500 - 3000 Square Feet
  • Irregular: Yes
  • Lot Depth: 132.0 Feet
  • Lot Frontage: 76.5 Feet
  • Lot Size: 76.5 x 132 FT
  • Zoning: R5-31
  • Sewer: Sanitary sewer
  • Parking Type: No Garage
  • No. of Parking Spaces: 9

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 182 12TH STREET, Hanover, Ontario, N4N 1T8

Demographic Information of 182 12TH STREET, Hanover, Ontario, N4N 1T8

Life Stage

Later Years

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$93,680.84

Average Number of Children

1.84

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

26.5 %

High school certificate or equivalent

34.55 %

Apprenticeship trade certificate/diploma

9.03 %

College/non-university certificate

23.3 %

University certificate (below bachelor)

1.03 %

University Degree

5.59 %

Commuter

Travel To Work

By Car

85.38 %

By Public Transit

0.0 %

By Walking

13.18 %

By Bicycle

0.0 %

By Other Methods

1.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

40.3 %

Houses

59.7 %

Own Vs. Rent

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