Property Information:

This legal four-plex is located in a strong, desirable neighborhood extremely close to the newly constructed Francophone Health Centre, making it an ideal long-term investment with stable tenant demand. The property is fully income producing and offers a solid revenue stream with excellent upside. The building consists of four self-contained units with a strong rental mix. The current rental income totals $4,850 per month or $58,200 annually. The main unit at 181 Preston rents for $2,000 per month plus utilities. Unit A at 147 Middleton rents for $850 per month plus utilities. Unit C at 147 Middleton rents for $880 per month with the owner paying hydro. Unit D at 147 Middleton rents for $1,120 per month plus hydro. Operating costs are well managed. Water and sewer are approximately $4,824 annually, property taxes are $5,592 per year, Reliance hot water rental is $759.24 per year, insurance is $2,959.20 annually, and hydro for one unit is approximately $1,260 per year, for total operating expenses of $16,654.44 annually. This produces a net operating income of approximately $41,545.56 per year. Based on an asking price of $399,900, the property delivers an approximate 10.4% cap rate, making this an exceptionally strong cash-flowing investment. This is a rare opportunity to acquire a legal four-plex in a prime location with proven income, excellent tenant demand, and outstanding investment fundamentals. MPAC 324, Total Sq.Footage 2200, Hydro Tenants, Heat $1140 /12mths, Water-Sewer $4356 / year. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Amenities:
Basement Development: Finished
Basement Type: N/A
Exterior Finish: Stucco
Fireplace: Yes
Floor Space: 2000 - 2500 sqft
Foundation Type: Concrete
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning

Property Features:

Property Type: Multi-family
Bedrooms: 6
Bathrooms: 5
Floor Space (approx): 2000 - 2500 Square Feet
Irregular: Yes
Lot Depth: 80.8 Feet
Lot Frontage: 52.8 Feet
Lot Size: 52.9 x 80.9 FT
Utility Type: Sewer - Installed, Cable - Available, Hydro - Installed
Zoning: NA-R3
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 6

Courtesy of: REALTY NETWORKS INC.

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Demographic Information of 181 PRESTON STREET, Timmins (TS - SW), Ontario, P4N 3N4

Life Stage

Young Couples

Employment Type

Service Sector/White Collar

Average Household Income

$94,647.12

Average Number of Children

1.61

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

29.04 %

High school certificate or equivalent

33.23 %

Apprenticeship trade certificate/diploma

6.12 %

College/non-university certificate

26.18 %

University Degree

5.42 %

Commuter

Travel To Work

By Car

74.22 %

By Public Transit

7.19 %

By Walking

11.58 %

By Bicycle

0.08 %

By Other Methods

6.93 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

37.69 %

Houses

62.31 %

181 PRESTON STREET, Timmins (TS - SW), Ontario, P4N 3N4