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$6,900,000
Est. payment /mo
21,851 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 21,851 sqft
Price per Sqft $315
Subdivision Dovercliffe Park/Old University
MLS Listing ID X12240626
Annual Tax Amount $34,091
Tax Year 2024
Property Sub-Type Investment
Lot Depth 136.12
Lot Front 160.0
Property Description
Opportunity to acquire one turn-key walk-up apartment building just minutes from the University of Guelph, ideally positioned to benefit from the city's growing student and young professional rental demand. This 21-unit building has been professionally managed and well maintained, offering a passive investment opportunity with no immediate capital expenditures forecasted in the near or medium term. The property provides strong in-place income and consistent turnover, enabling rents to be brought to market annually in line with the academic calendar. The building presents further upside through the potential to implement a by-the-bed leasing strategy tailored to the student demographic. The stabilized net operating income is approximately $279,061. Property Summary: Lot Size: 21,850.72Frontage: 160 ft Depth: 136.12 ft Taxes (2024): $34091.82
Location
Province ON
County Wellington
Community Dovercliffe Park/Old University
Area Wellington
Zoning R1B
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 160.0
Lot Depth 136.12
Others
Security Features No
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Listed by CUSHMAN & WAKEFIELD