4319 HIGHWAY 11

Home Details

Description

Seller willing to hold a second VTB mortgage to cover your down payment. Want a cash flowing property that meets the 1% rule? What will the property cash flow produce as interest rates decline? Turnkey 13 Unit residential complex sitting on 1 acre consisting of a newly renovated 3-bedroom stand-alone house, and a 12 unit converted motel rezoned in 2022 with 11 bachelor units and 1x1 bedroom unit. Gross rents are $137410 with expense calculation including property management, vacancy and maintenance equaling $58571 giving a net income before mortgage of $78838. This complex has only 7 units close too or at market rent giving the new owner room to lift their investment when the remaining 5 tenants move out. Many supporting docs on including new shingles with ice guard to peak 2023, site plan control showing all buildings parking etc., water testing and well reports, zoning confirmations, fire retrofit 2014 and of course a detailed income and expenses report. 3 Bedroom house just received occupancy permits from city, previous fire remediation and recently renovated. Any touched renovations done to current code including electrical, gas furnace, framing, drywall etc. 4 older septics, drilled well with engineering reports under MOE guidelines. (id:39198)

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Additional media

https://www.youtube.com/shorts/MYxSe_4TjAc

Property taxes

$11,642.00 per year / $970.17 per month

Basement

None

Year build

-

Type

Multi-family

Bedrooms

null

Bathrooms

null

Parking spots

18 Total

Floor

-

Balcony

-

Pool

-

External material

Vinyl siding

Roof type

-

Lot frontage

-

Lot depth

-

Heating

Baseboard heaters, Forced air, Electric, Natural gas

Fire place(s)

-