Description
Are you looking for an investment opportunity with plenty of upside in a thriving and rapidly growing area? 16055 County Rd 36 in Long Sault features a well built and well maintained 6-unit apartment building (all 2 bedroom, 1 bathroom units with in-unit laundry) as well as the potential to build a second 6-unit apartment building on the same property. An amendment to the Zoning By-Law has recently been passed to allow for a second 6-unit building to be built on this same property, providing ample opportunity for the new owner. Each unit in the existing building has plenty of upside potential in rental income as well. This property has had many recent updates including new shingle roof (2023), 6 new AC units (2023), new retaining wall / steps (2023), new entry door (2023), painting / patching of units (2024), painting of patio railings (2024). This is a turn-key investment with very good tenants, and plenty of rental upside. South Stormont Township is a very fast growing community in Eastern Ontario and this is your opportunity to be a part of that growth with a well built asset. This building has mainly mature tenants, is steps away from the conveniences of Long Sault, and features a paved parking lot area. All tenants pay their own heat + hydro.
Overview
Property ID:
X12358958
Type:
Multiplex
Bedrooms:
12
Bathrooms:
6
Square:
4,250 m²
Price:
$1,100,000
PropertyType:
Residential Freehold
TransactionType:
For Sale
BuildingAreaUnits:
Square Feet
Cooling:
Central Air
Heating:
Forced Air
ParkingFeatures:
None
YearBuilt:
Unknown
TaxAnnualAmount:
6471
PossessionDetails:
TBD
Map
-
AddressSouth Stormont
Contact Agency
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