Welcome to Schreiber Ontario.

A gem in the north on top of Lake Superior. These town up north are lacking in rentals units so there are no vacancies.

ENTER 213 - 215 Langworthy St. Appraised at $460,000 with a HUGE 8.5% CAP RATE

10 Town house style units 5 on one side 5 on the other with 2 different layouts (you can see the difference on the picures) Fully leased Fully managed New Roof 2018 Electrical and plumbing up to date New front doors and patio doors and windows in front

Every Unit is 2 Bedroom and all but 2 people pay their own hydro Snow and lawn contract in place to continue to keep the buildings beautiful and Clean

Gross yearly Income - $87,900

I added a 2% Vacancy rate JUST IN CASE but these units (and any units there) are in demand and always rented so you can take out the 2% out and have an even higher cap rate

With 2 Percent Vacancy it's $1,758 expense for the year

EXPENSES Taxes - $9,738 Insurance - $6,286 Water / Sewer - $13,527 Hydro - $3,721 Snow and Lawn - $2,758 Reliance - $190 Maintanance - 2.5% - $2,154 Management - 10% - $8,614

Total Operating expenses -$46,988 NOI - $39,154

I have a current appraisal of $460,000 you can take to a bank for a mortgage

There is NO NEGOTIATION. YOU BUY AT THE APPRAISED PRICE Serious Inquires only

You have all the info and pictures. Proof of docs and appraisal will only be given upon an offer in hand

So Happy New Year

Call 4165647415 or reply to this ad

You can also email realestate@colinkalverda.ca