Constructed in 2020, this 6-unit building just two blocks from Algonquin College in downtown Pembroke features 6 three-bedroom suites, all with appliances (fridge/stove/dishwasher/stacked washer & dryer) and furniture package. Projected gross income from rental and parking for 2023 projected at $160,130/annum. Seller's expenses from 2022 as follows: advertising and promotion: $3,068; insurance: $7,478; management fees: $8,543; office: $27; professional fees: $3,283; property taxes: $10,869; grounds & maintenance & repairs: $9,843; utilities: $17,598. Total expenses in 2022 of $60,709. Assuming a 2% increase in operating expenses and projected income for 2023 of $160,130 yields a projected net of $98,207 with the projected cap rate asking at 5.5%. This is a newer, well-located asset in the City of Pembroke. 164 Christie Street is being sold together with 320 Lake Street. See MLS® #1347315. 320 Lake Street is a 16-unit building, a separate title. (id:53156)
| MLS® Number | 1347121 |
| Property Type | Multi-family |
| Neigbourhood | Algonquin College Pembroke |
| Parking Space Total | 7 |
| Constructed Date | 2019 |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 3 |
| Utility Water | Municipal Water |
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 117 Ft |
| Size Frontage | 75 Ft |
| Size Irregular | 75 Ft X 117 Ft (irregular Lot) |
| Size Total Text | 75 Ft X 117 Ft (irregular Lot) |
| Zoning Description | R4-35 |
https://www.realtor.ca/real-estate/25716783/164-christie-street-pembroke-algonquin-college-pembroke
Craig Edmonds
Salesperson
(613) 735-1062
(613) 735-2664
Patrick N. Hulley
Broker of Record
(613) 546-4208
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Sales Representative
Royal LePage Edmonds & Associates
P: 613.401.4267
