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#1: 25 Unit Apartment Building For Sale, New Roof, Retrofitted, High Return

Posted on 2006-03-10 18:14:09 by smithsfallsbuilding

25 Unit Apartment Building For Sale, New Roof, Retrofitted, High Return
More photos at <a href="" target="_blank"></a> Price: $625,000
CDN (approx. $545,000 USD). Proforma 17%+ Cap rate. Located in downtown
Smiths Falls, Ontario, Canada. 45 mins drive to Ottawa. Smiths Falls is
the chocolate capital of East Canada and a popular tourist destination.
The property is in walking distance to all amenities. Over 21,000
square foot interior space. Currently 13 apartments (own kitchen,
bathrm), 1 large commercial tenant (bar &amp; grill), 1 additional
commercial space, 2 offices and 8 single residential units (share
bathrooms and common areas), and numerous storage rooms. Always well
rented. Excellent return. Masonary structure. New roof ($30K) in Dec
2003. Building was completely fire retrofitted in 2005 (over $80K) and
had numerous improvements. High ceiling between the floors, large room
windows, wide stairs, mosaic windows, beautiful antique modelings. Full
size full height basement. Advanced alarm system thoughout the
building. Recognized for its architect beauty. Lots of potential. High
resolution color security camera system monitors entire building's
public areas and records views and sounds 24 hours (with $30-40/m can
be seen by absentee owner via Internet). Property management company
available for absentee owner.
Website and contact info: <a href="" target="_blank"></a>
Serious inquiry only.

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