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191 Castor Street Russell, Ontario K4R 1B8

Central Air Conditioning Forced Air, Heat Pump

$1,499,900

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:28469)

Property Details

MLS® Number 1378535
Property Type Multi-family
Neigbourhood Russell
ParkingSpaceTotal 26

Building

ConstructedDate 1995
CoolingType Central Air Conditioning
ExteriorFinish Brick
FoundationType Poured Concrete
HeatingFuel Natural Gas
HeatingType Forced Air, Heat Pump
StoriesTotal 2
UtilityWater Municipal Water

Land

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