This fantastic 7 unit apartment is in a great top tier central location close to everything. It features 6 big updated 2 bedroom residential units plus a large storage unit that is currently rented to a business. 100% occupied, it is on direct bus routes to university, downtown, is near walking trails along the river, and a busy commercial corridor making it always easy to find tenants. Current rents are $104,100/year with expanses totaling $36,439. Professional management in place new boiler and coin operated laundry. Completely turn-key.
Sale Type:
Asset or Share
Ownership:
Freehold
Property Type:
Multi-Family Commercial
Commercial Type:
Multi Family
Construction:
Frame Wood
Name of Complex/Subdivision:
Carney Place
Num Storeys:
2
Building Type:
Low Rise (2-4 storeys)
# Bldgs:
1
# Units Total:
7
# Other Units:
7
# of Apartments:
6
# of Studio Apartments:
0
# of Penthouse Apartments:
0
# of Bachelor Apartments:
0
# of 4+ Bedroom Apartments:
0
# of 1 Bedroom Apartments:
0
# of 2 Bedroom Apartments:
6
# of 3 Bedroom Apartments:
0
Year built:
1987
(Age: 38)
Living Area:
6,400 sq. ft.595 m2
Subject Property Depth:
116'35.4 m
Subject Property Width:
82'25 m
Wrhse Size:
1,000 sq. ft.92.9 m2
Lot Area:
9,583.2 sq. ft.890 m2
Zoning:
RM2
Potential to Redevelop:
Yes
Parking:
Guest
# Of Parking Spaces - Total:
10
Road Surface:
Paved
Heating:
Hot Water, In-Floor
Electricity:
Yes
Services Connected:
Electricity Connected, Fully Serviced, Natural Gas Connected
Sewer:
Public Sewer
Parcel Number:
008064920
Taxes:
$8,293.5 /
2025
Laundry Facility
No
Common Water Heater
None Known
Yes
Water Supply:
Public
Water Rights:
No
Roof:
Torch On
Potential to Redevelop:
Yes
Env Assmt Phase:
No
Cap Rate %:
6.0
Gross Income:
104100.0
Oper. Expenses:
36439.0
Other Income:
$1,500
Effective Gross Income:
$105,600
Net Operating Income:
$64,850
Original Price:
$1,100,000
Bird's eye view
Kitchen with white appliances, white cabinetry, and light countertops
Living room with carpet floors and a textured ceiling
Dining room with carpet flooring and a chandelier
Kitchen with white appliances, brown cabinets, and light countertops
Sitting room featuring carpet floors and a textured ceiling
Carpeted living room with a chandelier and baseboards
Utilities with electric meter and a heating unit
Finished below grade area featuring a baseboard radiator
Communal laundry room with a baseboard radiator, washer and dryer, and a textured ceiling