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$1,350,000
Otonabee-South Monaghan
3246 County Road 2 Road, Otonabee-South Monaghan, Ontario, K0L2G0
This multi-family property in Otonabee-South Monaghan is for sale. It has been on the market 9 days, fresher than the Otonabee-South Monaghan average of 98 days.
5 residential units, 4 office spaces, and 2 retail spaces, offering a diverse mix of income-generating opportunities. All Commercial Spaces are currently vacant providing opportunities to set market rents, or reconfigure for into more strategic spaces. The property also includes an unused section of land measuring approximately 66' x 223' with multiple options as per LC6 Zoning - view attachments for future development opportunities. The 5 rented apartments generate $91,740 in annual rental income, with the vacant office and retail spaces offering an estimated $43,200+ annually. Ample parking is available. Factor in the low-maintenance ownership, streamlined utilities, established rental income, low property taxes, and multiple value-add opportunities, and you have an exceptional investment property offering immediate income, potential for future growth, and development opportunities. (id:66096)
Features and services as supplied by the listing brokerage.
Active: 9 days on market, against an average age of 98 days across the listings currently for sale in this city
This multi-family in Otonabee-South Monaghan has been listed for 9 days, which is 89 days fresher than the city average of 98. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $1,350,000, about 17.1× the local median household income of $79,000.
Carrying it typically needs a household income of about $263,702 (20% down, 25-yr amortization, stress-tested) — roughly 234% above the area median.
Source: Statistics Canada, 2021 Census (FSA K0L)
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Loading rates, 30-yr amortization
Cash Needed to Close
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