Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:47421)
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Detailed Information
Bedrooms
8
Bathrooms
4
Lot
53.67 x 249.83 ft
Features
Hillside, Wooded area, Flat site
Listing Contract Date
2026-01-16
Location Description
Cross Streets: Springbank Drive. ** Directions: South off Springbank onto Greenwood Ace. on the east side.
# of Parking Spaces
8
Property Type
Multi-family
Transaction Type
For sale
Building
Age
51 to 99 years
Amenities
Separate Electricity Meters
Appliances
Water Heater
Basement Development
Partially finished
Basement Type
Full (Partially finished)
Cooling Type
Wall unit
Exterior Finish
Brick
Foundation Type
Poured Concrete
Heating Fuel
Electric
Heating Type
Heat Pump
Type
Fourplex
Utility Water
Municipal water
Parking Spaces
Name
Spaces
No Garage
Land
Total Size
53.7 x 249.9 FT
Sewer
Sanitary sewer
Size of Irregular Land
53.7 x 249.9 FT
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