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$ 1,349,999
Est. payment /mo
New
24 WATER STREET Trent Hills, ON K0L1Y0
8 Beds
7 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500 - 5000
Subdivision Hastings
MLS® Listing ID X14105344
Bedrooms 8
Property Description
Excellent investment opportunity, This mostly renovated well-maintained 6 + 1 -unit apartment building offers a desirable mix of two bachelor apartments, two one-bedroom apartments and three two-bedroom apartments, providing a diversified rental mix within one property. Five of the six + one units have been renovated, adding to the overall appeal of this established income-producing property. All units are separately metered for both water and hydro, an attractive feature for multi-residential ownership and long-term operating efficiency. The building currently generates approximately $104,263 in gross annual rental income, providing strong existing cash flow with scheduled future rent increases offering additional income potential. Adding to the property's appeal is the potential for future development of an additional multi-unit residential building on the property, creating an opportunity to further increase the number of rental units and overall income potential. Buyer to complete their own due diligence regarding zoning, servicing, development potential, building permits and all required municipal and regulatory approvals. Hastings is situated along the Trent-Severn Waterway, at the meeting of the Trent River and Rice Lake, making the area popular for boating, fishing and outdoor recreation. The community offers local shops, restaurants, parks, trails and essential services, while nearby Campbellford provides additional shopping, healthcare, dining and recreational amenities. With its waterfront setting, relaxed lifestyle and convenient access to surrounding communities, Hastings continues to be an appealing place to live for a wide range of residents. A compelling opportunity combining 6 + 1 existing rental units, immediate income, separately metered utilities and future development potential-an excellent addition to a multi-residential investment portfolio. (id:24570)
Location
Province ON
Lake Name Trent Severn River
Rooms
Kitchen 0.0
Interior
Heating Heat Pump
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 10
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Water Trent Severn River
Listed by Royal Heritage Realty Ltd.
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