1.613.401.4267 | ryanpattinson@royallepage.ca


164 Christie Street Pembroke, Ontario K8A 4R1

Baseboard Heaters


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)

Property Details

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


Craig Edmonds

(613) 633-7653

Royal LePage Edmonds & Associates
270 Lake Street
Pembroke, Ontario K8A 7Y9

(613) 735-1062
(613) 735-2664

Patrick N. Hulley
Broker of Record

(613) 546-4208
(613) 546-2793

RE/MAX Rise Executives
642 Derbyshire Point Lane
Athens, Ontario K0E 1B0

(613) 546-4208

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Ryan Pattinson

Sales Representative Royal LePage Edmonds & Associates

P: 613.401.4267
E: ryanpattinson@royallepage.ca