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  • For sale

For Sale

$2,480,000 USD

Built in 1928, the building is constructed of wood frame construction, bitumen roof and concrete perimeter foundation. The property offers 16 units with a mix of (16) cottage style studios. The site resides on a ±9,148 square foot lot with a total of ±5,136 square feet of living space. Floor plans include hardwood floors and carpet throughout with linoleum and tile kitchen and bathroom floors. Amenities include front entry security gate, motion sensor lighting, 24-hour video surveillance and rear exterior decks. The building offers individually metered gas and electric and individual hot water boilers to mitigate expenses and streamline operations.

Sale Note
16 Units

• Sixteen low-maintenance cottage-style studios
• Upside potential captures market cap rate of 6.92%
• Separately metered gas & electric mitigates operational costs
• Individual hot water boilers in all units
• Gated, secure entryway with exterior lighting