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$ 809,500
Est. payment | /mo
5,000 SqFt
$ 809,500
Est. payment | /mo
5,000 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $161
Subdivision Coldwater
MLS Listing ID S12246046
Annual Tax Amount $6,190
Tax Year 2024
Property Sub-Type Investment
Property Description
Solid 7-unit mixed-use building in downtown Coldwater, consisting of 6 residential one-bedroom units and 1 long-standing commercial tenant. Current rents offer a compelling 45% upside to market, making this a strong long-term investment with immediate growth potential. Vendor may consider a first-position VTB up to 70% loan-to-value, offering a compelling opportunity to reduce capital outlay. All tenants pay their own hydro, and each residential unit is equipped with its own furnace, keeping operating costs low. The roof was replaced in 2023, and the property has been well-maintained throughout. Priced attractively at $115,000 per unit with a 5.8% cap rate in place. This building forms part of a broader portfolio featuring 29 residential and commercial units, all located on the same block ideal for buyers seeking scale and efficiency in an emerging rental market.
Location
Province ON
County Simcoe
Community Coldwater
Area Simcoe
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 40.0
Listed by EXP REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
7885 Tranmere Dr Unit 1, Mississauga, Ontario, L5S1V8, CAN