Fully tenanted 5-unit legal non-conforming apartment building generating a strong gross income of $91,380/year with a 10.685% cap rate. Separately metered for hydro with electric baseboard heating and heat pumps as heating sources. Recent upgrades include a newer well producing over 5 PLUS GPM (no trickle system required) and a 10,000-gallon holding tank with approx. $3,550/year in pump-out costs. Select units have seen cosmetic improvements, ensuring tenant satisfaction and reduced maintenance. Located just 10 minutes north of Hwy 401 in the quiet village of Roblin, this low-maintenance rural property offers excellent access to urban centres and is just 2 hours from Toronto or Ottawa. A solid opportunity for investors seeking stable cash flow. Detailed expense sheet available upon request. (id:13843)
| MLS # | X14122812 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 7 |
| Listing Provided By | RE/MAX HALLMARK FIRST GROUP REALTY LTD. , BROKERAGE | ALEXANDRA GRANT |
| Bath(s) | 5 Total |
|---|---|
| Zoning | HR-2 (Hamlet Residential - Excep |
| Acreage | 0.36 |
| Cooling | Partially air conditioned |
|---|---|
| Heating | Baseboard heaters |
| Appliances | Washer, Dryer, Water Treatment, Water Heater |
| Fireplace Yes / No | No |
| Lot Features | Irregular lot size |
|---|
| Parking Total | 5 |
|---|
| Sewer | Septic System |
|---|---|
| Water Source | Drilled Well |
| Tax Annual Amount | 4121 |
|---|
| Province | ON |
|---|---|
| City | Greater Napanee (Greater Napanee |
| Postal Code | K0K2W0 |
| Listing VS Median (in K0K2W0) | |
Price: $598,000 low | high Med: $759,900 On site: 7 low | high Med: 68 | |
| Province | ON |
|---|---|
| City | Greater Napanee (Greater Napanee |
| Postal Code | K0K2W0 |
| Listing VS Median (in K0K2W0) | |
Price: $598,000 low | high Med: $759,900 On site: 7 low | high Med: 68 | |