$2,775,000

For sale

181 Lakeshore Road East, Mississauga (Port Credit) - Multi-family for Sale

181 Lakeshore Road East, Mississauga (Port Credit), Ontario, L5G1G2

5 baths7 parking5,600 ft²Listed 14 days ago

Overview

This multi-family property in Mississauga is for sale offering roughly 5,600 sq ft of space. It has been on the market 14 days, fresher than the Mississauga average of 62 days.

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Description

Welcome to 181 Lakeshore Rd East in the vibrant area of Port Credit in Mississauga. This great investment opportunity consists of 4 residential apartments, one 1 bedroom, one 2 bedroom (renovated in 2019), one 3 bedroom(renovated in 2019)and one bachelor apartment .All renovated apartments have new kitchens, bathrooms, appliances and flooring. The main floor/commercial unit is a Salon with approximately 850 square feet with additional usable space in the lower level. The common areas in the building were also renovated in 2019. All of the five units are fully leased and all tenants must be assumed by the buyers. The building is conveniently located with public transit, restaurants ,shopping, parks and Lake Ontario within walking distance. New roof in 2023, windows 2019, furnace 2019. Photos were taken when the renovations were completed in 2019. Tenants pay for their own hydro except for the bachelor apartment which is paid by the owner. Internet is included for all the residential units and paid by the owner. Salon tenant pays their own hydro. Buyers must assume rental contracts for both hot water tanks. (id:66096)

Property Details

MLS®: W14102504
Property Type: Multi-family
Zoning: C4 Commercial
Bathrooms: 5
Parking: 7
Interior Size: 5,600 ft²
Frontage: 40 ft
Building Area: 5,600 ft²
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $22,561.16/yr
Listed: 14 days ago

Features

Appliances: Washer, Dishwasher, Dryer, Microwave

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

14d

Mississauga (Port Credit) listings, avg age

62d

Price / ft²

$496

List price

$2.77M

Homes here sell faster than most markets

Sold homes in this market spent an average of 34 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

This multi-family in Mississauga (Port Credit) has been listed for 14 days, which is 48 days fresher than the city average of 62. Act while there is still low competition.

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Listed by RIGHT AT HOME REALTY · RICHARD E GROSSO

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L5G)

This home lists at $2,775,000, about 29.2× the local median household income of $95,000.

Carrying it typically needs a household income of about $542,055 (20% down, 25-yr amortization, stress-tested) — roughly 471% above the area median.

Median household income: $95,000
Population: 20,714
Median age: 45.2
Owner / renter: 57% / 43%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA L5G)

$2,775,000· $496/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $555,000

Min 20%50%

Mortgage payment$11,835/mo

Property tax (est.)$1,880/mo

Total monthly$13,715

Cash Needed to Close

Down payment (20%)$555,000

Land transfer tax$55,850

Est. closing costs$10,825

Total cash needed$621,675

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