11-23 Colborne Simcoe ON N3Y 3T8

  • 0

$ 2,400,000.00

  • Date added: 11/22/22
  • Post Updated: 2022-11-22 20:41:41
  • Type:
  • Status:
  • Bedrooms: 19
  • Bathrooms: 16
  • Area: 12597 sq ft
  • MLS #: 40352177
  • ListOfficeName: Re/Max Twin City Realty Inc.
  • VirtualTourURLUnbranded: https://youtu.be/Yifr9MEGKoE
  • WaterSource: Municipal-Metered
  • CountyOrParish: Norfolk
  • Directions: South on Hwy 24 - Right onto Robinson - Right onto Colborne
  • NumberOfUnitsTotal: 16
  • Zoning: CBD

Description

Take your investing to the next level and add this rare opportunity to your Real Estate portfolio. Offering 12 residential units with a mix of 1, 2 and 3 bed units PLUS 4 commercial store front units, this property truly is the perfect addition and an easy way to add 16 more doors to your count. With over 12 thousand square feet of total building space, coin laundry, street parking and located on a high traffic road in the business corridor of downtown Simcoe, Welcome to 11-23 Colborne Street North. With a long list of modern updates throughout this building, including HVAC, Plumbing, electrical and residential unit refinishes, lots has been done but there is always more you can do to add plenty of future value. The basement has great potential for any one who wants to add more doors to this property and increase the cash flow, if you can dream it, you can do it here. All the units are separately metered, either directly by the utility provider or private in house metering, which is perfect for keeping expenses low and income HIGH. Financials are available upon request. 2022 CAP RATE is 4.8 and 2023 CAP RATE will be 5.0%. This is one of those chances that doesn’t come often and we all know that brick and mortar real estate is the best way to invest.

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Features

  • Appliances: Water Heater Owned
  • Roof: Membrane
  • InteriorFeatures: Accessory Apartment, Ceiling Fan(s)
  • SecurityFeatures: Smoke Detector, Alarm System, Smoke Detector(s)
  • StoriesTotal: 2
  • Cooling: Ductless, Energy Efficient
  • Heating: Baseboard, Forced Air, Natural Gas
  • Sewer: Sewer (Municipal)
  • Inclusions: Smoke Detector
  • LotFeatures: Urban, Ample Parking, Business Centre, Corner Lot, City Lot, High Traffic Area, Hospital, Shopping Nearby
  • OpenParkingSpaces: 4
  • ParkingTotal: 4

Building Details

  • Basement: Development Potential, Walk-Up Access, Full, Unfinished
  • BuildingAreaTotal: 12597
  • PropertyCondition: 100+ Years
  • ConstructionMaterials: Brick, Stucco
  • FoundationDetails: Brick/Mortar, Concrete Perimeter

Miscellaneous

Fees & Expenses

  • TaxAnnualAmount: $ 16,740.80

11-23 Colborne Simcoe ON N3Y 3T8. MLS 40352177. This style property is located in Simcoe is currently . This property is listed at $ 2,400,000.00. It has 19 beds bedrooms, 16 baths bathrooms. The property was built in year.

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