Discover an outstanding residential and commercial investment in Russell, boasting a spacious 4800 sqft all brick building with a basement area. Currently, the main floor hosts four leased commercial units, while upstairs features three apartments: two 2-bedroom and one 3-bedroom. The basement includes pay laundry facilities and individual storage lockers for each unit. With a large heat pump boiler system ensuring efficiency, this property offers 26 parking spots and a compelling 5.9% cap rate. Gross Operating Income stands at $122,118 (excluding Commercial HST), with Operating Expenses of $33,401.15, resulting in a Net Operating Income of $88,716.85 (excluding Commercial HST). Commercial AC Units x 4 replaced in 2022. With its prime location and high rental demand, this investment opportunity in Russell is not to be missed. Schedule a viewing today to secure your position in this flourishing market. (id:6673)
| MLS® Number | 1378535 |
| Property Type | Multi-family |
| Neigbourhood | Russell |
| ParkingSpaceTotal | 26 |
| ConstructedDate | 1995 |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air, Heat Pump |
| StoriesTotal | 2 |
| UtilityWater | Municipal Water |
| Acreage | No |
| Sewer | Municipal Sewage System |
| SizeDepth | 100 Ft |
| SizeFrontage | 125 Ft |
| SizeIrregular | 125 Ft X 100 Ft |
| SizeTotalText | 125 Ft X 100 Ft |
| ZoningDescription | 471 |
Contact us for more information
Joey Van Benthem
Broker
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