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Key Details
Sold Price $1,850,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,400 sqft
Price per Sqft $289
MLS Listing ID 40551877
Bedrooms 12
Year Built 1973
Annual Tax Amount $15,906
Lot Size 0.420 Acres
Property Description
Classic walk up, twelve plex apartment building beckons for your immediate attention! Concrete (cast/block masonry) building. Can not build for list price. Very few come available on MLS in Elmira - maybe one every five or six years.
Take the risk out of this purchase: building comes to you very well documented with a Pinchin Phase I Environmental (2024, clean), Pinchin Building Condition Assessment (2024). Life Safety Systems Update/Certificate (2024).
Opportunity to increase rents significantly over time. Property may qualify for CMHC MLI Select program under the Affordability Criteria ? with the best rates and amortizations currently available. Individual electrical meters ? tenants pay electricity.
Cap ex: modernized hallways with carpet tile, commercial water heaters (2023), sloped asphalt roof (2017). Building?s back windows (2020), Building?s front windows (2015/2016 approximately). Balcony doors (2019/2020)
Great low density rental area. Good tenant profile. Easy building to add to your existing portfolio. Opportunity abounds! Call your favourite REALTOR today and let?s book a showing.
Location
Province ON
County Waterloo
Area 5 - Woolwich And Wellesley Township
Zoning R-6
Rooms
Kitchen 0
Interior
Heating Baseboard, Electric
Cooling None
Laundry Coin Operated
Exterior
Exterior Feature Separate Hydro Meters, Year Round Living
Garage Asphalt, Assigned
Waterfront No
Roof Type Asphalt Shing
Building
Lot Description Rectangular, Paved, City Lot, Highway Access, Place of Worship, Playground Nearby, Quiet Area, Rec./Community Centre, Schools, Shopping Nearby
Story 2
Foundation Concrete Block, Slab
Sewer Sewer (Municipal)
Water Municipal
Structure Type Block,Shingle Siding,Other
New Construction No
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