Investment Opportunity 8 Plex $599,000 Great cap rate
17 Bedrooms8 Bathrooms
5,000 Sq/Ft Living5,000 Sq/Ft Total2.64 Acres
Sold for - last offered at $599,000

Location Map

Property Details

 
441 Lost Channel Road
Tweed, Ontario
 
MOIRA RIVER
Multifamily  
Price: $599,000
Status: SOLD
PIN / MLS® #: 402970027
Pin: 402970027
Roll #:  
Brokerage File #:  
Address: 441 LOST CHANNEL RD
City: TWEED, K0K 3H0
Side of Road: North
Lot Size: 257  X 516
Acreage:  
Approx. Sq Ftg Range: 5000+
Occupancy: Tenant
Major Area: Tweed Munic
District: Hungerford Ward
Subdistrict: EAST OF HWY 37 (Hungerford)
Zoning: Waterfront Residential
Elementary School:  
Secondary School:  
List Date: 19-MAY-2017 Possession: IMMEDIATE
Days on Market:      
All Tenant belonging’s

Property Overview Great investment opportunity. Purpose built, income generating 8 unit apartment building. Fully rented with 7 – 2 bedroom apartments and 1 – 1 bedroom apartment. 20 minutes north of Belleville and 5 minutes south of Tweed. Beautiful park like lot sits on over 2 acres with Moira river frontage. Lots of parking. Good water supply. Coin operated laundry. All units are separately metered. Low maintenance building with a steel roof, many long term tenants and superintendent in place. Excellent cap rate. Well cared for building.
Directions Highway 37 north to Lost Channel Rd., turn east number 441. Property is on the North side of the road. No sign
   
Inclusions 8 Refrigerators,  8 Stoves, 1 coin Washer & Dryer
Exclusions  All Tenants belonging’s
   
Type: 5 – 8 Unit
Title To Land: Freehold
Property Size: 1.0 -2.99 Acres
Accessory Buildings:  
Rental Equipment: None
   
1st Heat Source: Baseboard
2nd Heat Source:  
HVAC Features:  
Water: Drilled Well
Sewage: Septic
Driveway: Gravel
Parking:  
Easements/Restrictions:  
Foundation/Bsmt: Block, Concrete
Roof: Metal
   
Interior Features: Coin Laundry, Hi Speed  internet
Exterior: Aluminum Siding
Exterior Features: Satellite Dish, 
Waterfrontage: Yes Water Type: RIVER Shoreline:  
Waterfront Features: Water Access, Waterfront
WF Accessory Buildings:   WF Exposure: North
Com/Ret Space: No
Rent Control: Yes
Sign: No UFFI: NO
Lockbox:   SPIS:  
Vermiculite: NO Garage: No
# Of Parking Spaces: 12 Parking:  
# outdoors spaces: 10 # Indoor spaces:  
Property For: Sale Sale Type:  
Approx. Age Range: 44 years
   
1 Bedroom Units: 1 2 Bedroom Units: 7 3 Bedroom Units:  
4 Bedroom Units:   Bachelor:   Number of Rental Units: 8
Fire Retrofit:   # Vacant:    # Occupied: 8
stoves: 8 dishwashers:   washers: 1
dryers: 1 microwaves:   fridges: 8
Income Information
rental income: 60840 laundry income: 1800 parking income:   other income:  
Expense Information
insurance: 4062 maintenance:   water/sewage: 3225 heating bill:   electricity bill: 4176
lawn/snow: 500 management: 1800 taxes cost: 4578 garbage:   other costs: 680
Totals
approx total income: 62640 approx total expenses: 19021 approx net income: 43619
Full Assessed Value: $ Current Assessed Value: $ Taxes: $4578 (2016)
Rental Income: YES
         
Listing Office: RE/MAX QUINTE LTD, Brokerage – TRENTON 613 392-6594
Website: http://remaxquinte.ca
Listing Agent: JASON WOOD, SALES PERSON 613-392-6594 mr.jasonwood@gmail.com
Website: http://www.jasonwood.ca
 
Data provided by the Quinte & District Association of REALTORS® Inc.
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