$2,675,000
FOR SALE

Investment

Lot: 75 x 167.22 ftTotal Area: 0.36 acres
2023 Taxes: $16,311.14Maintenance Fees: $3,000

33-39 King St E
Cramahe, ON K0K 1S0 | Colborne | Northumberland

Historic Red Brick Apartment Buildings in quaint Colborne. Imagine this investment in a growing town 130 kms from Toronto! Own a big chunk of the Main Street in this growing Quaint Downtown close to Lake Ontario and on the King's Highway.Mixed-Use Income Units: 9 Residential & 3 Commercial facing Quaint Downtown Main Street. Well-updated & proudly commanding a 75 ft swath of frontage in the bustling downtown & historic King Street E in Colborne, ON.Historic buildings have modern updates including large large cement patio terrace in front w/ contemporary railings paid for and maintained by the town!Cool Tin ceiling & wood banister & heritage details add character in some areas of the buildings. Well-Updated & maintained units.These buildings are sited on a large lot w/ so much parking in back.Full basement houses mechanicals, 10 yrs new furnace for Laundromat business & sep. meters + lots of storage. Well-tenanted. Commercial Tenants just renewed leases. On-site Property Manager! BONUS! Sale includes solid income from the only Public Laundromat Business in the vicinity including all machines. Superintendent onsite in exchange for partial rent abatement. Separate Electrical Meters. Good Commercial tenants: Retail, Office. Excellent Turnkey Income generating! Fire retrofit/update in process. Income & Expense Sheet available.
Extras
Furnace 10 years. Windows: 2016-2019. Common Area updated. Some Waterproofing/Repair to exterior '23. Cement Patio, Railings. Roof in good shape Steel w/Spray Foam. Sep Metres. Income & Expense Sheet available.
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Listed By CENTURY 21 ALL-PRO REALTY (1993) LTD.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X7401576
Last Updated May 07, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
PIN 511410412
Occupancy Tenant
Possession Date TBD
Taxes (2023) $16,311.14
Tax Type Annual
Maintenance Fees $3,000
Directions/Cross Streets King St E & Maybee
Neighbourhood Colborne
Area Northumberland
Price History

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Detailed Information
Freestanding Y
Bathrooms 12
Lot 75 x 167.22 ft
Lot Irregularities See Attachments
Total Area 0.36 acres
Air Conditioning Part
Garage Type None
Parking Spaces 12
Heat Type Elec Forced Air
Gross Income/Sales $219,977
Net Income Before Debt $169,856
Hydro Expense $3,703
Water Expense $8,095
Heat Expenses $4,014
Insurance Expense $10,198
Management Expense $9,812
Operating Expenses $50,122
Taxes Expense $16,311
Year Expenses $2,023
Expenses Actual/Estimated Est
Outside Storage N
Area Influences Rec Centre
Sewers San+Storm
Utilities Y
Water Municipal
Crane N
Survey N
Lot/Bldg/Unit Code Lot
Zoning VC
Seller Property Info Statement N

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