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11-23 Colborne Street N Simcoe, Ontario N3Y 3T8

Ductless Baseboard Heaters, Forced Air

$2,400,000

Take your investing to the next level and add this rare opportunity to your Real Estate portfolio. Offering 12 residential units with a mix of 1, 2 and 3 bed units PLUS 4 commercial store front units, this property truly is the perfect addition and an easy way to add 16 more doors to your count. With over 12 thousand square feet of total building space, coin laundry, street parking and located on a high traffic road in the business corridor of downtown Simcoe, Welcome to 11-23 Colborne Street North. With a long list of modern updates throughout this building, including HVAC, Plumbing, electrical and residential unit refinishes, lots has been done but there is always more you can do to add plenty of future value. The basement has great potential for any one who wants to add more doors to this property and increase the cash flow, if you can dream it, you can do it here. All the units are separately metered, either directly by the utility provider or private in house metering, which is perfect for keeping expenses low and income HIGH. Financials are available upon request. 2022 CAP RATE is 4.8 and 2023 CAP RATE will be 5.0%. This is one of those chances that doesn't come often and we all know that brick and mortar real estate is the best way to invest. (id:29966)

Property Details

MLS® Number 40351209
Property Type Office
Amenities Near By Hospital, Shopping
Community Features High Traffic Area
Features Corner Site, Laundry- Coin Operated

Building

Basement Development Unfinished
Basement Type Full (unfinished)
Construction Style Attachment Detached
Cooling Type Ductless
Exterior Finish Brick, Stucco
Fixture Ceiling Fans
Foundation Type Brick
Heating Fuel Natural Gas
Heating Type Baseboard Heaters, Forced Air
Stories Total 2
Size Exterior 12597.0000
Utility Water Municipal Water

Land

Acreage No
Land Amenities Hospital, Shopping
Sewer Municipal Sewage System
Size Frontage 88 Ft
Zoning Description Cbd

https://www.realtor.ca/real-estate/25085942/11-23-colborne-street-n-simcoe

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