About this home

Fully tenanted 5-unit legal non-conforming apartment building generating a strong gross income of $91,380/year with a 10.685% 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. (id:28469)

Business

Business Type	Residential
Business Sub Type	Apartments

Facts & features

Property

MLS® Number: X13042640
Property Type: Multi-family
Community Name: 58 - Greater Napanee
Features: Irregular Lot Size
Parking Space Total: 5

Building

Bathroom Total: 5
Age: 100+ Years
Appliances: Dryer, Water Heater, Washer, Water Treatment
Cooling Type: Partially Air Conditioned
Heating Type: Baseboard Heaters
Type: Multi-family
Utility Water: Drilled Well

Land

Acreage: No
Sewer: Septic System
Size Depth: 139 Ft ,10 In
Size Frontage: 72 Ft ,2 In
Size Irregular: 0.355
Size Total: 0.355 Ac
Size Total Text: 0.355 Ac
Zoning Description: Hr-2 (hamlet Residential - Exception2)

Monthly payment estimate

Home price

Down payment 20%

Interest rate (%)

Amortization

Frequency

Estimated payment — per month

Mortgage amount: —
Total interest: —

Estimate only — excludes property tax, insurance and condo fees. Rates compound semi-annually as is standard for Canadian mortgages.

Location

3244 County 41 Road, Greater Napanee, Ontario K0K 2W0 · Get directions