Happy Friday Everyone! It is feeling alot more like February weather now :) Drive safe
Checkout this feature listing in Picton Ontario...Brand New Built 24 Unit rental building that is fully leased and income producing which is perfect for a larger investment group looking to add to there portfolio an asset that wont require any major upgrades or work for a long time. The goal of real estate investing is residual income through multi family properties
3 SPRING ST, Picton K0K 2T0
MLS#1180061 - Lot size: 100.03 x 349.91
Built in 2019- 24 unit building ( 12 units with 3 bed, 11 units with 2 beds and 1 unit with one bed)
Estimated Gross Revenues $404,340.00
Total Operating Expenses $131,171.00
Estimated Net Operating Income $273,169.00
Estimated CAP Rate: 5.3%
Investment property with 24 fully occupied apartment units in the beautiful community of Picton Ontario, Prince Edward County. Comprised of 1 x one bedroom, 11 x two bedrooms, and 12 x three bedrooms apartment units. Efficiently built building with an Elevator. Each unit has its own ERV's and Hot Water Tanks. 24 hydro meters, tenants pay their own in-unit hydro costs. 30 parking spots plus 2 disabled parking spots. 40-year fiberglass shingles. Fridge, stove & dishwashers in every apartment unit included. Laundry facilities equipped with rented coinamatic Income generating machines on each floor. 100% tenanted! Great management team and live in superintendent in place! Located a short distance from grocery stores, shopping, the Prince Edward County Memorial Hospital & the famous Sandbanks Provincial Park.
Parking: 32 Incl. Plus Visitors & Disabled
Heating: Baseboard Electric
Chattels: 24 Fridges, 24 Stoves, 24 Hood fans, 24 Dishwashers, 24 ERV’s, 25 Hot Water Tanks
Contact for more info such as rent roll, floor plan and more information.