$809,500
Available - For Sale
Listing ID: S12246046
24 Coldwater Road West , Severn, L3V 3L1, Simcoe
| Solid 7-unit mixed-use building in downtown Coldwater, consisting of 6 residential one-bedroom units and 1 long-standing commercial tenant. Current rents offer a compelling 45% upside to market, making this a strong long-term investment with immediate growth potential. Vendor may consider a first-position VTB up to 70% loan-to-value, offering a compelling opportunity to reduce capital outlay. All tenants pay their own hydro, and each residential unit is equipped with its own furnace, keeping operating costs low. The roof was replaced in 2023, and the property has been well-maintained throughout. Priced attractively at $115,000 per unit with a 5.8% cap rate in place. This building forms part of a broader portfolio featuring 29 residential and commercial units, all located on the same block ideal for buyers seeking scale and efficiency in an emerging rental market. |
| Price | $809,500 |
| Taxes: | $6190.00 |
| Tax Type: | Annual |
| Assessment Year: | 2024 |
| Occupancy: | Tenant |
| Address: | 24 Coldwater Road West , Severn, L3V 3L1, Simcoe |
| Postal Code: | L3V 3L1 |
| Province/State: | Simcoe |
| Directions/Cross Streets: | Sturgeon Bay Rd / Coldwater Rd |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Building Percentage: | T |
| Total Area: | 5000.00 |
| Total Area Code: | Square Feet |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Partial |
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| EXP REALTY |
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Ritu Anand
Broker
Dir:
647-287-4515
Bus:
905-454-1100
Fax:
905-277-0020
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Simcoe |
| Municipality: | Severn |
| Neighbourhood: | Coldwater |
| Tax: | $6,190 |
| Fireplace: | N |
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