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Kawartha Lakes,ON K9V 2V5
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 8,731 sqft
Price per Sqft $171
Subdivision Lindsay
MLS Listing ID X12158767
Annual Tax Amount $22,715
Tax Year 2024
Property Sub-Type Investment
Property Description
Phenomenal 7% Cap Rate, Turnkey 10-unit apartment building presents a rare investment opportunity in a prime location, surrounded by ongoing development and poised for future growth. The property features a diverse unit mix, including 4 one-bedroom, 1 two-bedroom, 3 three-bedroom, and 2 four-bedroom units. Over $235,000 has been invested in extensive capital improvements, including a complete exterior waterproofing and caulking ($55,000), renovations to 4 units with new plumbing, kitchens, bathrooms, flooring, appliances, and finishes ($96,000), as well as upgrades to the common areas and outdoor stairwells ($15,000). Additional improvements include the installation of new high-efficiency laundry facilities ($15,000), a new roof and windows ($33,000), and stucco restoration and exterior refinishing ($21,000). Hydro is separately metered, with some tenants paying their own and others having it included in rent. Offering solid cash flow from day one with a strong rental upside, located in a rapidly developing area with excellent long-term growth potential.
Location
Province ON
County Kawartha Lakes
Community Lindsay
Area Kawartha Lakes
Rooms
Kitchen 0
Interior
Cooling No
Exterior
Utilities Available Available
Lot Frontage 112.2
Lot Depth 137.34
Building
New Construction false