Timiskaming - TIM - Outside - Rural
Timiskaming - TIM - Outside - Rural
Listed For $1,195,000
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Priced to Sell-Great Investment with 10% Cap Rate! Renovated Purpose Built 15 Unit Income Property Like No Other Situated In 1 Of Timiskaming Most Rentable Neighborhoods - Matachewan! Located less than 2min from the Alomosa Gold Mine-this property has been fully rented out in the last 10 years-with a waiting list of tenants. Fully Updated & Bright Units consisting of 11 Bachelor Apts, 2-1Bedroom Apts,1-2 Bedroom Apt. Bonus Unfinished High/Dry Basement-Potential to add 6-8 more apartments-for a Total of 22+ Units. Currently the Gross Yearly Income is $142,000.00 . The Yearly Expenses are $26,482.00 (Landlord Pays Hydro Yr-$2510.00 / Water Yr-$2221.00 / Taxes: Yr$4151.00 / Ins:Yr-$3600.00 / Maint Yr $4000.00.) The YEARLY NET INCOME is $115,718.00. Unbelievable Net Return!
* Values are estimates only and not a guarantee of lending or affordability.
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