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In-PersonVirtual Tour
$ 799,900
Est. payment | /mo
5 Baths
$ 799,900
Est. payment | /mo
5 Baths
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 58 - Greater Napanee
MLS Listing ID X12120630
Building Age 100+
Annual Tax Amount $4,121
Tax Year 2024
Property Sub-Type Investment
Property Description
Fully tenanted 5-unit legal non-conforming apartment building generating a strong gross income of $91,380/year with a 9.35% cap rate. Separately metered for hydro with electric baseboard heating and heat pumps as heating sources. Recent upgrades include a newer well producing over 5 PLUS GPM (no trickle system required) and a 10,000-gallon holding tank with approx. $3,550/year in pump-out costs. Select units have seen cosmetic improvements, ensuring tenant satisfaction and reduced maintenance. Located just 10 minutes north of Hwy 401 in the quiet village of Roblin, this low-maintenance rural property offers excellent access to urban centres and is just 2 hours from Toronto or Ottawa. A solid opportunity for investors seeking stable cash flow. Detailed expense sheet available upon request.
Location
Province ON
County Lennox & Addington
Community 58 - Greater Napanee
Area Lennox & Addington
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 72.18
Lot Depth 139.86
Listed by RE/MAX HALLMARK FIRST GROUP REALTY LTD. , BROKERAGE
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