$2,950,000 Sale

Listed 1 day

608-618 LORNE AVENUE

MLS® x14103574 Multi Family

Your request was received!

We'll be in touch soon to confirm the details.

Date:

Beds · 22

Baths · 11.0

Parking · 15

Sqft · 5000 - 100000

Est. mortgage

$11,191/mo

Key Facts

Key facts for 608-618 LORNE AVENUE

Property Type

Apartment, Raised bungalow

Parking

Garage: No, 15 parking

MLS #

X14103574

Size

5000 - 100000 sqft

Basement

None

Listed on

Lot size

Tax

Days on Market

Year Built

Maintenance Fee

Description

This 11-unit residential purpose-built comples delivers immediate cash flow and stands out as a turnkey investment opportunity with strong cash flow and significant principal recapture after mortgage payments. Located on a quiet street just off Algonquin Ave., the property consists entirely of eleve...n 2-bedromm units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financail perspective, the asset generates a gross rental invome of $273,436 with estimated operating expenses of $80,979 (inclusive of management, vacancy, and maintenance), resulting in a solid net income before financing of $192,457 and a highly competitive 6.52% cap rate. Features include hot water boiler system, secure security doors, and 15 dedicated spaces, while the utility framework structures all rents plus hydro. Adding to it's long-term tenant appeal, the building is situated within easy walking distance of local shopping, neighborhood restaurants, and the main bus route on Algonquin Ave itself. Please note that the listing photos provided were taken previous to the tenants moving into the units. (id:10452)

Full Property Details

Interior

Bedrooms

Washrooms

11.0

Square Footage

5000 - 100000 sqft

Basement

None

Heating Source

Natural gas

Air Conditioning

None

Full Bathrooms

Half Bathrooms

Bedrooms

Washrooms

11.0

Square Footage

5000 - 100000 sqft

Basement

None

Heating Source

Natural gas

Air Conditioning

None

Full Bathrooms

Half Bathrooms

Exterior

Acreage

125 x 96 FT

Parking Spaces

Garage Spaces Y/N

Zoning Description

RM1

Land Amenities

Public Transit, Hospital, Schools

Acreage

125 x 96 FT

Parking Spaces

Garage Spaces Y/N

Zoning Description

RM1

Land Amenities

Public Transit, Hospital, Schools

Building Description

Style

Raised bungalow

Home Type

Apartment

Subtype

Multi Family

Exterior

Brick, Steel

Sewers

Sanitary sewer

Water Supply

Municipal water

Fire Protection

Controlled entry

Architectural Style

Raised bungalow

Style

Raised bungalow

Home Type

Apartment

Subtype

Multi Family

Exterior

Brick, Steel

Sewers

Sanitary sewer

Water Supply

Municipal water

Fire Protection

Controlled entry

Architectural Style

Raised bungalow

Community

Central

Area Code

North Bay (Central)

Features

School Bus

Community

Central

Area Code

North Bay (Central)

Features

School Bus

Similar Properties (No results)

Mortgage Calculator

Calculate your estimated monthly mortgage payment

Price $2,950,000

Down payment

Interest rate

Amortization

Total cost of mortgage

Monthly payment

By clicking Save, we will calculate your estimated mortgage for all properties using the saved values (down payment percentage, interest rate, and amortization).

The accuracy and applicability of this calculator are not guaranteed.

Roger Townsend

Email: [email protected] Cell: 647-360-6433