6 Bathroom
1 ac
None
Hot Water
Acreage
$949,000
Fully tenanted 5-plex in the core of Bancroft offering stable, income-focused value. The property is priced to reflect a 6.7% cap rate on current in-place income, with all units occupied by long-term tenants providing consistent cash flow. The building contains five self-contained residential units with a mix of functional layouts and has been operated as a rental apartment property for many years. Originally constructed as an OPP station and later converted to residential use, the building benefits from solid, institutional-style construction. Heating is provided by an oil-fired hot water boiler with baseboard distribution. A shared coin-operated laundry area provides additional income, and dedicated mechanical and common areas support efficient operation. Situated on an oversized, irregular lot with frontage on Flint Avenue, the property is serviced by municipal water and sewer and includes on-site parking. The asset is well suited for investors seeking a straightforward, stabilized multi-residential property where value is driven by income and cap rate fundamentals. (id:56087)
Business
|
Business Type
|
Residential |
|
Business Sub Type
|
Apartments |
Property Details
|
MLS® Number
|
X12776950 |
|
Property Type
|
Multi-family |
|
Community Name
|
Bancroft Ward |
Building
|
Bathroom Total
|
6 |
|
Appliances
|
Dryer, Water Heater, Washer |
|
Cooling Type
|
None |
|
Heating Fuel
|
Oil |
|
Heating Type
|
Hot Water |
|
Size Interior
|
1 Ac |
|
Type
|
Multi-family |
|
Utility Water
|
Municipal Water |
Land
|
Acreage
|
Yes |
|
Size Depth
|
173 Ft |
|
Size Frontage
|
131 Ft |
|
Size Irregular
|
29665 |
|
Size Total
|
29665 Ac |
|
Size Total Text
|
29665 Ac |
|
Zoning Description
|
Cf |
https://www.realtor.ca/real-estate/29346317/33-flint-avenue-bancroft-bancroft-ward-bancroft-ward
