4930 ROAD 38

Multi-family For Sale in Harrowsmith, Ontario

  • 7 Beds
  • 5 Baths
  • 5,500 Sq. Ft.
  • Built 1860
Zoned UC-30 to allow 5 (five) residential units and commercial on main floor. Current layout: 2 x Third Floor Apartments, 2 x Second Floor Apartments, 2 x Main Floor Units (Res/Commercial). Projected Gross Income is a whopping approx. $139,560 with Operating Expenses being very low. Property Taxes only $2,883.53 (annual) in 2022. That's only $241/month. Utilities total approx. $6K/year, insurance approx. $4500/year. The math shows Net Income of approx. $129,000/year. That's approx. $10,750 per month over and above expenses (before mortgage costs or any improvement costs, of course). Cap Rate is approx. 20% with these projections. Property is vacant while improvements in progress. Detailed Property Information Package and Financial Illustration are provided in the document section. Estimates for remaining improvements available upon request. (id:4069)
Address 4930 ROAD 38
List Price $549,900
Property Type Multi-family
Area Ontario
Sub-Area Harrowsmith
Bedrooms 7
Bathrooms 5
Floor Area 5,500 Sq. Ft.
Year Built 1860
MLS® Number 40426605
Listing Brokerage MacInnis Realty Inc., Brokerage
Postal Code K0H1V0
Zoning UC-30

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Shannon Green
Professional Hall Of Fame Realtor

Re/Max Finest Realty Inc.

1329 Gardiners Rd Unit 105 Kingston ON K7P 0L8

Mobile: 613-484-7653

Office: 613-389-7777

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