CASH FLOWING Triplex Under $400k – 1 Hour From GTA Available

  • $399,900
  • 4 beds
  • 3.5 baths
  • 2500-3000 sqft

Attention Landlords!
Ready to kick off 2023 with a cash flowing rental?

Cash flow on day one with this fully tenanted triplex (legal duplex) just east of the GTA. Less than $150k/unit! All units are occupied by great tenants, and rents gross $3,200/month. The place is lovely and well maintained…if you don’t buy it, we might!

SUMMARY:
– LOCATION: Colborne, ON (20 min east of Cobourg, on your way to Belleville from the GTA)
– PURCHASE PRICE: $399,900 Or Best Offer
– CURRENT MARKET VALUE: The last triplex that sold in Colborne was in 2018. 5 years later, ours is still cheaper than that one! Similar nearby properties being used as single family homes or 2 units are selling in the $500s/$400s as well.
– CLOSING: Somewhat flexible (This is an assignment sale.)
– TYPE: 2 Storey Detached. Legal Duplex Plus Additional 3rd Unit.
– BEDS/BATHS: 4 Beds/3.5 Baths.
– PARKING: 4-5 cars
– BASEMENT: Unfinished
– SQFT: 2500-3000 sq. ft.
– LOT: 54′ x 160′ (approx)
– AGE: 1900
– PROPERTY TAX: $2620/year
– RENTAL INCOME: $3200/month gross. Room to increase on turnover. All 3 units currently occupied with single, fully employed, good quality tenants.
Unit A: 2 bed/1.5 bath. $1450 all inclusive. Tenant looks after grass and snow.
Unit B: 1 bed/1 bath. $900 plus hydro.
Unit C: 1 bed/1 bath. $850 plus hydro.

RENOVATIONS NEEDED:
– This property is in rent-ready condition.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.

PICTURES are here: https://1drv.ms/u/s!AuqWmOD57pS7ioEsRpXipESggUfZ_g?e=woi14r

GOOD NEWS:
– Usually multi-units at this price come with big problems…not this one!
– One unit is a lovely 2-storey, 2-bedroom unit.
– Could there be potential to add a 4th unit on this property?? The lot is big, and so is the house…
– New furnace 2018

Please let us know if you want to view it or if you want us to email you the info package. (Comparable sales, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Paul
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors

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Price:
$399,900
Address:
Colborne, ON
Square Feet:
2500-3000
Lot Size:
54x160
Bedrooms:
4
Bathrooms:
3.5
Terms:
Assignment of Contract
Property Type:
Triplex
Year Built:
1900
Basement:
Unfinished

Call (647) 557-5979 for more details