Property Information:
This investment property presents a compelling opportunity with strong potential returns. The current rents reflect two units: a one-bedroom unit with a projected rent of $1,350 and a two-bedroom unit at $1,750 plus utilities. With a list price of $369,000, the projected cap rate stands over a solid 10% after accounting for insurance and property taxes. Notably, the property is vacant and ready for new tenancy, allowing a new owner to present immediate occupancy without downtime. Typically, properties at this return level require substantial renovations; however, this property has been extensively updated. Electrical work is completely brand new, including complete rewiring, a separate meter and panel-based setup, updated overhead service, and all new electrical components. All ESA inspections have been completed, and the property is equipped with two water tanks, two furnaces, and two gas meters and two water meters. (id:27)
Building Features:
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Style:
Duplex
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Building Type:
Duplex
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Amenities:
Separate Heating Controls, Separate Hydro Meters
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Architectural Style:
Bungalow
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Basement Development:
Unfinished
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Basement Type:
Partial, N/A, N/A
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Exterior Finish:
Vinyl siding
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Fireplace:
Yes
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Floor Space:
1100 - 1500 sqft
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Foundation Type:
Block
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Heating Type:
Forced air
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Heating Fuel:
Natural gas
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Cooling Type:
Central air conditioning
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Appliances:
Dryer, Stove, Washer, Refrigerator
