6 plex for sale and a vacant lot for $699,000!! North of Toronto and Barrie.
- Port McNicoll: a growing community located only 1.5 hours drive from Toronto (40 minutes North of Barrie)
- Fully tenanted at below market value
- Opportunity to sever the property into two: 80’x118’ and 40’x118’ (vacant lot)
- Seller is retiring and is open to VTB second mortgage
- 8% CAP rate (expenses need to be verified)
- Across the street from a large redevelopment project with approximately 1,500 new residential homes
- Total Gross Monthly Rents: $5,700 (tenants pay heat & hydro)
- 3 bed + den – $1,200
- 1 bed – $850
- 1 bed – $900 x3
- 1 bed – $950
- Water bills for the past year: apprx. $300/year
- Other expenses: Insurance ($160/month), snow removal and grass cutting ($100) & property taxes ($4,167.69)
Some units are rough and could use renos when the tenants vacate. The roof is almost new and most of the windows have been updated during the last 10 years.
Let us know if you’re interested in this 6 plex for sale opportunity and we can get you details.
Call us at 647-557-5979.