47
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$1,549,000
Est. payment /mo
11 BD
6 BA
2,999 SqFt
Active
318 DOLPH STREET S Cambridge, ON N3H2C2
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,999 sqft
Price per Sqft $516
MLS® Listing ID X11990994
Bedrooms 11
Originating Board The Oakville, Milton & District Real Estate Board
Property Description
Modernized sixplex building, 5x2 bedrooms and 1x1 bedroom, that is well maintained with great friendly tenants generating over 5.5% cap rate now and ability to increase the cap immediately through some efficiency tweaks. The cap could be increased by moving from private garbage pickup to city garbage pick-up, renting the locker in the building, and introducing 4-6 more parking spots. Hydro and Water is metered separately. The average rent per unit is 1,519$/month and the building is generating 85,000$ income after operating expenses. Four units went through recent renovations and the other two units are still in good shape. The building has modern gas heating that goes through ducted system, future owner can consider adding central AC through the system otherwise some tenants have window AC units right now. Windows have been changed. Electrical is 200 amps. The building is fully compliant with fire department requirements for fire safety and has security cameras. Recent upgrades are coin operated washer and dryer, exterior lighting, water softener and gas hot water heater, and new mailboxes. You can't ask for a better maintained building at this price. The building is located in friendly neighborhood with easy access to 401 and across the street from Grand View Public School, which is additional plus. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Exterior
Parking Features No
Community Features School Bus
View Y/N No
Total Parking Spaces 7
Private Pool No
Building
Story 2.5
Sewer Sanitary sewer
Listed by Right At Home Realty, Brokerage