Exceptional opportunity for an investor looking to grow their portfolio with a cash positive investment. This Turn-Key property is located minutes from the 401, U.S. Bridge and Hwy. 416. Originally a motel, this commercially-built property was converted t a 7-Unit Residential Apartment Complex in the late 90's Preliminary approval in place for storage rental spaces. Upgraded septic and two wells service the property. Mechanical upgrades in the past 7 years include boiler systems, metal shingles and high efficiency propane furnaces in the last 7 years. Owner occupied unit will be vacant upon closing. Main building consists of 1-3 bedroom, 4-2 bedroom, 2-1 bedroom, detached garage and separate laundry. 3 of the 2 bedroom units have 2 baths, all other units have one bath. Plenty of parking and outdoor space for each tenant. (id:47421)
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Detailed Information
Bedrooms
13
Bathrooms
10
Lot
274 x 323 ft
Amenities Nearby
Shopping
Community Features
Quiet Area
Listing Contract Date
2024-09-09
Location Description
Exit 721B from ON-401 Eastbound. Turn left onto County Rd 16. Turn right onto County Rd 44, property is on your right side.
Ownership Type
Freehold
# of Parking Spaces
16
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
RU-3
Building
Basement Type
None
Constructed Date
1962
Cooling Type
Central air conditioning
Exterior Finish
Vinyl siding
Heating Fuel
Propane
Heating Type
Forced air, Radiant heat
Stories Total
2
Utility Water
Well
Parking Spaces
Name
Spaces
Detached Garage
Land
Total Size
1/2 - 1.99 acres
Access Type
Highway access
Amenities
Shopping
Sewer
Septic System
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