11-23 COLBORNE Street N , Simcoe

19 Bed / 16 Bath / $2,400,000 / MLS® Listing #:40352177

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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. (id:10452)

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Property Details

Property Type Multi-family
Square Feet 12597.0000
Maintenance N/A
Days On Our Website 17
Basement Unfinished - Full (Unfinished)
Lot Dimensions under 1/2 acre
Pool N/A
Area Simcoe
Air Conditioning Ductless
Heating Natural gas - Baseboard heaters, Forced air
Exterior Brick, Stucco
Parking Spaces 4
Parking Type Visitor Parking,Visitor Parking
Sewers Municipal sewage system
Water Municipal water

Listing Office: Re/Max Twin City Realty Inc.

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