Modernized sixplex building, 5x2 bedrooms and 1x1 bedroom, that is well maintained with great friendly tenants generating over 5.5% cap rate now and ability to increase the cap immediately through some efficiency tweaks. The cap could be increased by moving from private garbage pickup to city garbage pick-up, renting the locker in the building, and introducing 4-6 more parking spots. Hydro and Water is metered separately. The average rent per unit is 1,519$/month and the building is generating 85,000$ income after operating expenses. Four units went through recent renovations and the other two units are still in good shape. The building has modern gas heating that goes through ducted system, future owner can consider adding central AC through the system otherwise some tenants have window AC units right now. Windows have been changed. Electrical is 200 amps. The building is fully compliant with fire department requirements for fire safety and has security cameras. Recent upgrades are coin operated washer and dryer, exterior lighting, water softener and gas hot water heater, and new mailboxes. You can't ask for a better maintained building at this price. The building is located in friendly neighborhood with easy access to 401 and across the street from Grand View Public School, which is additional plus. (id:4069)
Address
318 DOLPH STREET S
List Price
$1,549,000
Property Type
Multi-family
Type of Dwelling
Other
Area
Ontario
Sub-Area
Cambridge
Bedrooms
11
Bathrooms
6
Floor Area
3,000 Sq. Ft.
Lot Size
165 x 65 Acre Sq. Ft.
MLS® Number
X11990994
Listing Brokerage
Right At Home Realty, Brokerage
Basement Area
N/A (Finished)
Postal Code
N3H2C2
Zoning
RM3
Site Influences
Schools, Public Transit, Park
Amenities
Separate Electricity Meters
