6501 Ontario 93 - Apartments FOR SALE


Elmvale, ON L0L 1P0
$980,000 CAD
416-364-2036

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$980,000 CAD
Apartments - FOR SALE
null | Request Cap Rate

6501 Ontario 93
Elmvale, ON L0L 1P0


OVERVIEW

Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.

FOR SALE DETAILS

PRICE

$980,000 CAD

PRICE/SF

$306 CAD /SF

# OF UNITS

6

PRICE/UNIT

$163,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,398 SF

ZONING

Multi-Family

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Matthew MetzleriPro Realty LtdMore Info
416-364-2036

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Matthew MetzleriPro Realty LtdMore Info
416-364-2036

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.