$2,435,000
Available - For Sale
Listing ID: X9265679
33-39 King St East , Cramahe, K0K 1S0, Ontario
| Exceptional investment opportunity in a prime downtown location! This nearly 10,000 sq ft mixed-use property features 9 residential and 3 commercial units, with 7 units currently tenanted. The two vacant residential units are being renovated for increased rental potential. Includes a fully operational, cash-generating Laundromat the only one in town owned by the seller. Zoned Village Commercial (VC), this property offers diverse usage options, with separate electrical panels for each unit. Ample owned and municipal parking available. Known as one of the nicest multi-residential buildings in town, it has a history of natural tenant turnover every 2-4 years, keeping rents competitive. Don't miss out on this rare opportunity! |
| Extras: An excellent opportunity to separate the laundromat and sell that business. Further utility separation could explode your NOI and offer a huge bump in valuation. |
| Price | $2,435,000 |
| Taxes: | $16311.14 |
| Tax Type: | Annual |
| Occupancy by: | Tenant |
| Address: | 33-39 King St East , Cramahe, K0K 1S0, Ontario |
| Postal Code: | K0K 1S0 |
| Province/State: | Ontario |
| Lot Size: | 75.00 x 167.00 (Feet) |
| Directions/Cross Streets: | King St E and Maybee Ln |
| Category: | Apartment |
| Use: | Apts-6 To 12 Units |
| Building Percentage: | Y |
| Total Area: | 0.36 |
| Total Area Code: | Acres |
| Financial Statement: | N |
| Insurance Expense: | $10198 |
| Management Expense: | 14707 |
| Heat Expenses: | $3131 |
| Hydro Expense: | $7184 |
| Water Expense: | $8425 |
| Other Expenses: | $2000 |
| Gross Income/Sales: | $237843 |
| Operating Expenses: | $71148 |
| Net Income Before Debt: | $161179 |
| Year Expenses: | 2023 |
| Expenses Actual/Estimated: | $Est |
| Heat Type: | Baseboard |
| Central Air Conditioning: | N |
| Water: | Municipal |
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| RE/MAX JAZZ INC. |
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At a Glance:
| Type: | Com - Investment |
| Area: | Northumberland |
| Municipality: | Cramahe |
| Neighbourhood: | Colborne |
| Lot Size: | 75.00 x 167.00(Feet) |
| Tax: | $16,311.14 |
| Maintenance Fee: | $9,192 |
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