$4,500,000
FOR SALE

Investment

Lot: 255.63 x 254.84 ft
2023 Taxes: $42,675

535-545 RUSSELL Rd
Clarence-Rockland, ON K0A 2A0 | 607 - Clarence/Rockland Twp | Prescott and Russell

Solid investment opportunity for the savvy investor! Priced at 6.4 cap with present-day NOI (current appraisal on file). Room to grow top line revenue on turnover (14 of 20 units remain rented under market rates). Consists of 2 buildings each with 10 units (7 x 2-bedrooms and 3 x 1-bedrooms) for a total of 20 units. Individual units registered as condos (but not operated as such), which opens interesting options for future exit strategies for the experienced investor. All units are individually metered for both heat (natural gas), hydro and equipped with A/C units. Low maintenance units with ceramic and laminate flooring throughout. Interior storage units available for each unit and plenty of parking. Built in 2015. Meticulously managed property by owner operators with pride of ownership.
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Listed By RE/MAX DELTA REALTY TEAM
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9519706
Last Updated Dec 30, 2024
Property Summary
Property Type Investment

More like this:
Category Apartment
PIN 697680001
Legal Description RUSSELL STANDARD CONDOMINIUM PLAN NO. 68 AND ITS APPURTENANT INTEREST SUBJECT TO EASEMENTS AS SET OUT IN SCHEDULE A AS IN RC143182 CITY OF CLARENCE-ROCKLAND
Occupancy Tenant
Possession Date Flexible
Taxes (2023) $42,675
Directions/Cross Streets Take Russell Road East until you reach the village of Cheney
Neighbourhood 607 - Clarence/Rockland Twp
Area Prescott and Russell
Price History

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Detailed Information
Freestanding Y
Lot 255.63 x 254.84 ft
Air Conditioning Y
Parking Spaces 40
Amps 400
Volts 240
Heat Type Gas Hot Water
Gross Income/Sales $370,404
Net Income Before Debt $290,310
Water Expense $5,716
Insurance Expense $10,073
Operating Expenses $80,094
Expenses Actual/Estimated Est
Sewers Septic Avail
Water Municipal
Zoning RV2-10
Seller Property Info Statement N

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