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Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
MLS® Listing ID 26015662
Year Built 1900
Property Sub-Type Freehold
Property Description
Attention investors! Outstanding opportunity to acquire a cash-flowing duplex in the heart of Sarnia, offering three self-contained units and strong income potential at an affordable price point. With a total of 7 bedrooms, 3 bathrooms, and 3 full kitchens, this purpose-built income property is an excellent addition to any investment portfolio. This property is currently generating $4,800 per month ($48,000 annually) in gross rental income, with all rents inclusive. Current rental breakdown is as follows: Unit 1-$1,400/month (scheduled to be vacant mid-August, with the seller willing to make provisions to secure a new tenant prior to closing, subject to the terms of the Agreement of Purchase and Sale), Unit 2- $1,650/month and unit 3-$950/month. Based on previous years' operating figures, annual expenses are estimated at approximately: Gas -2,700, Hydro & Water-$6,206, Insurance-$1,200, Maintenance-$ 1,800, and Property Taxes -$3,100. The hot water tank is owned, eliminating rental costs. this results in an attractive estimated Net Operating Income, making this a rare opportunity to acquire a positive cash-flow investment property for under $400,000. Conveniently located close to amenities, schools, shopping and public transit, this property offers stable rental demand and long-term investment potential. Property is being sold as is, where is, as the Seller will provide limited representations and warranties with respect to the property. A fantastic opportunity for investors seeking immediate income with future upside. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air, Furnace,
Flooring Laminate, Cushion/Lino/Vinyl
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Story 1
Others
Ownership Freehold
Listed by Royal LePage Key Realty
Nearby Locations
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