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$1,350,000
Est. payment /mo
2,880 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2,880 sqft
Price per Sqft $468
Subdivision Orillia
MLS Listing ID S11981384
Building Age 16-30
Annual Tax Amount $7,787
Tax Year 2024
Property Sub-Type Investment
Lot Depth 135.0
Lot Front 90.0
Property Description
Looking for a turn key investment? Only 20 years old, this is an exceptional purpose built 5-plex with very low maintenance costs, featuring four 2-bedrooms units and 1 bachelor unit, all with 1 kitchen and 1 full bathroom. Occupied with triple A tenants, this property yields very strong cash flow ($92,400), resulting in an excellent cap rate. All units have all been beautifully renovated with commercial grade flooring (2023), new kitchens (2023) and bathrooms (2023). An easy building to maintain with a steel roof, vinyl siding, new breaker panels and separate hydro meters for all tenants, and low operating costs ($17,653). Baseboard heating in bedrooms & heat/air conditioner unit in the living rooms. Located right across the street from the lake, and conveniently located just minutes from Hwy 12 and downtown Orillia, this is an opportunity to buy and benefit from the revitalization of Orillia. Financials Attached.
Location
Province ON
County Simcoe
Community Orillia
Area Simcoe
Zoning C41
Interior
Cooling Yes
Inclusions 5 Fridges, 5 Stoves, 5 Range Hoods, Shed.
Exterior
Community Features Major Highway, Public Transit
Utilities Available Yes
Lot Frontage 90.0
Lot Depth 135.0
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Listed by IPRO REALTY LTD.