$2,435,000
FOR SALE

Investment

Lot: 75 x 167 ftTotal Area: 0.36 acres
2023 Taxes: $16,311.14Maintenance Fees: $9,192

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

Exceptional investment opportunity in a prime downtown location! This nearly 10,000 sq ft mixed-use property features 9 residential and 3 commercial units, with 7 units currently tenanted. The two vacant residential units are being renovated for increased rental potential. Includes a fully operational, cash-generating Laundromat the only one in town owned by the seller. Zoned Village Commercial (VC), this property offers diverse usage options, with separate electrical panels for each unit. Ample owned and municipal parking available. Known as one of the nicest multi-residential buildings in town, it has a history of natural tenant turnover every 2-4 years, keeping rents competitive. Don't miss out on this rare opportunity!
Extras
An excellent opportunity to separate the laundromat and sell that business. Further utility separation could explode your NOI and offer a huge bump in valuation.
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Listed By RE/MAX JAZZ INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9265679
Last Updated Aug 23, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
PIN 511410412
Occupancy Tenant
Possession Date FLEXIBLE
Taxes (2023) $16,311.14
Tax Type Annual
Maintenance Fees $9,192
Directions/Cross Streets King St E and Maybee Ln
Neighbourhood Colborne
Area Northumberland
Price History

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Detailed Information
Freestanding Y
Lot 75 x 167 ft
Total Area 0.36 acres
Air Conditioning N
Garage Type None
Heat Type Baseboard
Financial Statement N
Gross Income/Sales $237,843
Net Income Before Debt $161,179
Hydro Expense $7,184
Water Expense $8,425
Heat Expenses $3,131
Insurance Expense $10,198
Management Expense $14,707
Operating Expenses $71,148
Other Expenses $2,000
Year Expenses $2,023
Expenses Actual/Estimated Est
Utilities Y
Water Municipal
Lot/Bldg/Unit Code Lot
Zoning Village Commercial (VC)
Seller Property Info Statement N

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