Message Number	428974
status	Active
Subject Line	NEW PRICE - 45 Unit Apartment Building & 5 Commercial Units, Lake Huron Area (2 1/2 hrs. to GTA),$8,600,000.00, Fully Occupied with Plenty of Parking
Business area	Canada Ontario Southwestern Ontario
Have/Want	Have
Business category	Commercial Buildings/Hotels/Motels Apartment buildings/multi unit/condo townhouse projects/investments
Date of Listing	September 20 2024
Type Description	45 Unit Apartment Building & 5 Commercial Units
Location	Walking Distance to Downtown Core
Price	$8,600,000.00
Size	45 Apts & 5 Commercial Units
Site area	1.47 Acres
Cap Rate	5.25%
Comments	Well-maintained 45 suite apartment building close to downtown core. Consists of 25 - 2 bedroom and 20 - 1 bedroom apartments plus 5 well-established commercial units. This 3 story building with ample parking sits on 1.47 Acres and has been owned and maintained by the same family since being built in 1980. Updated elevator, alarm system, windows, balcony doors, kitchens & bathrooms. Occupied by long-term, mature residents. On-site laundry facilities and residents lounge. Currently fully rented with typical zero vacancy and a waiting list. Located in an area with strong residential rental demand. Current rents are under market value and incoming new tenants are paying 40% increase. Viewings to be arranged following acceptance of an Agreement of Purchase and Sale. Roof shingles replaced August 8 2024
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Control	Exclusive
Name	Russell Coultrup
Title	Sales Representative
Company Name	Re/Max Land Exchange Ltd. Brokerage
Address Line One	325 Lambton St. Unit 4A
City	KINCARDINE
State/Province	Ontario
Zip/Postal Code	N2Z 0E3
Country	Canada
Business Phone Number	(519)396-5062
Email Address	Send Email
Home Page	Home Page