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$2,100,000
Est. payment /mo
15 Beds
12 Baths
10,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $210
Subdivision Wb01 - Wasaga Beach
MLS® Listing ID 40661857
Bedrooms 15
Originating Board Barrie & District Association of REALTORS® Inc.
Year Built 1960
Lot Size 0.437 Acres
Acres 19035.72
Property Description
EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 6.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision. (id:24570)
Location
Province ON
Interior
Heating Baseboard heaters,
Cooling None
Exterior
Parking Features No
Community Features School Bus
View Y/N No
Total Parking Spaces 12
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Read Less Info
Listed by Re/Max Hallmark Peggy Hill Group Realty Brokerage
343 PRESTON STREET, 11TH FLOOR, OTTAWA, Ontario, K1S1N4