Neerajan Realtor
Description
Price: $ 1,155,000.00 MLS®: X12342684 Location : 859 Trunk Road, Sault Ste Marie, ON P6A 3T3
Great 1st time apartment investor building. 2 storey frame asset former motel converted into rental apartments. Fully occupied with 10 suites renovated and affordable rental. 17 suites with about $200,000 spent. 7% cap rate on asking price and $67,000 per suite which is way below replacement costs. Baseboard electric heating. Large site with ample parking. Potential to sub meter hydro moving forward. Owner pays cable and internet and this could be reduced on turnover.
Location Description
Trunk and Boundry Road
Property Details
- Property Type: Tenant/Commercial
- Garages: Outside/Surface
Building Features
Features
- Heating: Baseboard
Listing Contracted With: COMMERCIAL FOCUS REALTY INC.
