Description
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.
Location Description
Located on the Corner of Roblin Rd & County Road 41 in the Village of Roblin
Property Details
- Community: 58 - Greater Napanee
- Property Type: Tenant/Commercial
- Bath: 5
- Garages: None
- Annual Property Taxes : $ 4121
Building Features
- Parking Type : None
Features
- Heating : Baseboard
- Sewer : Septic ,
- Water System : Drilled Well
Listing Contracted With: RE/MAX HALLMARK FIRST GROUP REALTY LTD. , BROKERAGE
