207 ROSS Street St. Thomas

207 ROSS Street, St. Thomas

$1,399,900

  • 12
  • 12
9,726 Square Feet
Stress Free Investment Opportunity: 5 year old purpose built 12 plex - ENTIRE BUILDING IS FULLY LEASED by CMHA-Elgin until 2042 ( CMHA-Elgin fully responsible for ALL tenant dealings, vacancy loss and interior maintenance of all units- 100% occupancy rent paid monthly with automatic annual rent increases in accordance with rent increase guidelines of the RTA) Owned 10kw Microfit Solar Panel Installation (under contract until 2037), Entire Building constructed with emphasis on low maintenance + low energy consumption: Energy Star Windows, Energy Star Appliances (see chattel list), LED lighting throughout, low flush toilets, high efficiency boilers. Etc. Preferential Property Tax Reduction until 2042 (property tax savings of $9765.52 for 2020 tax season!) 12- One bedroom units (4 of which are barrier free) Controlled Entry, rear ramp with power assisted door, security camera system. Entire Building in as new condition. 2020 Gross Annual Income $82060.95, Net Income $50972.37 = Cap Rate of 3.64% (much better than any GIC) Building developed with assistance from Investment in Affordable Housing Initiative, Buyers agrees to assume obligations under IAH Agreement, which includes assuming existing Corporation that holds property, assumable mortgage of approx $229,000 but no additional financing can be added on title, CASH BUYER is required. Showings permitted with accepted offer only (id:23309)
  • Listing ID: 40115899
  • Property Type: Multi-family
  • Year Built: 2016
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Details

  • Amenities Nearby: Shopping
  • Communication: High Speed Internet
  • Equipment: None
  • Features: Laundry- Coin operated
  • Ownership: Freehold
  • Rental Equipment: None
  • Transaction: For sale
  • Zoning Description: Res

Building

  • BasementType: Full (Finished)
  • Basement Development: Finished
  • Constructed Date: 2016
  • Construction Style Attachment: Detached
  • Cooling: None
  • Exterior Finish: Vinyl siding
  • Fireplace Present: False
  • Fire Protection: Smoke Detectors, Security system
  • Foundation: Poured Concrete
  • Bathrooms (Total): 12
  • Heating: Hot water radiator heat
  • Size Interior: 9726.0000
  • Stories Total: 3
  • Utility Water: Municipal water

Land

  • Amenities: Shopping
  • Landscape Features: Landscaped
  • Sewer: Municipal sewage system
  • Size Depth: 105 ft
  • Size Frontage: 99 ft

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    This property for sale located at 207 ROSS Street in St. Thomas was last modified on November 12th 2021. Let us connect you with one of our real estate agents to schedule a viewing or subscribe to other properties for sale in St. Thomas.

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