This is an A+ building, in a great area, and only a few minutes walk away from the lake! Some units can also be converted to add additional bedrooms to maximize cash flow.
We are sharing a new Multifamily opportunity which is an A+ building, in an A+ location with very low risk, but with substantial upside! This asset is a little different than some of our others. While it's characterized by upside potential (below-market rents, and units where we can add a bedroom), it's an A+ building, in a great area, and recently been completely renovated.However, although the existing owner did much of the work, it hasn't done a good job since, of maximizing cash flow and therefore market value. That's where we can come in!
12 Plex in Whitby, very close to the lake and Harbour A+ building, solid brick, purpose-built, with 2 dedicated staircases All units are big, bright, spacious and very functional Huge 83' x 209' lot with 14 parking spaces (significant development potential) 4 units can be converted from 1-bed to 2 bed (without permit most likely!) Close to Lake Ontario, and Whitby Harbour Close to major transit (401, and Whitby go train) Close to shopping and recreation center Windows and doors replaced 7 yrs ago (good shape) Parking lots and driveways done 6 yrs ago Fire inspections up to date (last one was 1 week ago) Electrical is all updated as of 2017 (looks brand new)
Purchase 2.5M (listed for 2.75M) Short term capital: $1.01M Long term capital: $760k Strong +2K / month in cash flow ROI estimated 15%