Constructed in 2017/18, this 16-unit building just two blocks from Algonquin College in downtown Pembroke features 15 three-bedroom suites and 1 one-bedroom suite, all with appliances (fridge/stove/dishwasher) and furniture package. Projected gross income from rental and parking for 2023 projected at $410,310/annum. Seller's expenses in 2022 as follows: advertising and promotion: $307; insurance: $17,779; laundry (card/lease) and cleaning: $15,436; management fees: $20,340; property taxes: $28,961; grounds, maintenance & repairs: $28,961; utilities and security, Internet included: $49,182; professional fees: $3,497, office: $543. Total before debt service for 2022 is $162,499. Assuming a 2% increase in operating expenses and projected income for 2023 of $244,561 with projected cap rate asking at 5.4%. Parking is assigned with overflow available. The age of the property is technically 0-5 years (occupied September 2018). Laundry is coin (actually card) operated. (id:53156)
| MLS® Number | 1347315 |
| Property Type | Multi-family |
| Neigbourhood | Algonquin College Pembroke |
| Parking Space Total | 21 |
| Constructed Date | 2016 |
| Stories Total | 4 |
| Acreage | No |
| Size Frontage | 252 Ft |
| Size Irregular | 252 Ft X 0 Ft (irregular Lot) |
| Size Total Text | 252 Ft X 0 Ft (irregular Lot) |
| Zoning Description | R4-32 |
https://www.realtor.ca/real-estate/25716782/320-lake-st-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
