$ 980,000
6501 Highway 93 N/A Tay, ON L0L 1P0
Save 
Share Schedule a Tour
REQUEST A TOUR
In-PersonVirtual Tour
REQUEST A TOUR
In-PersonVirtual Tour
$ 980,000
Est. payment | /mo
4,000 SqFt
$ 980,000
Est. payment | /mo
4,000 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $245
MLS Listing ID S10429453
Annual Tax Amount $3,666
Tax Year 2023
Property Description
Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.
Location
Province ON
County Simcoe
Area Waverley
Interior
Cooling Partial
Exterior
Utilities Available Yes
Listed by IPRO REALTY LTD.
We know the real estate landscape, the best neighbourhoods, and how to build the best relationships. We’re committed to delivering exceptional service based on years of industry expertise and the heartfelt desire to get it right.