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$ 980,000
Est. payment /mo
Active
6501 Highway 93 N/A Tay, ON L0L 1P0
7 Beds
6 Baths
UPDATED:
10/31/2024 06:50 PM
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
MLS Listing ID S9859924
Style 1 1/2 Storey
Bedrooms 7
Annual Tax Amount $3,666
Tax Year 2023
Property Description
Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.
Location
Province ON
County Simcoe
Community Waverley
Area Simcoe
Region Waverley
City Region Waverley
Rooms
Family Room No
Basement Unfinished
Kitchen 6
Interior
Interior Features Separate Heating Controls
Cooling Central Air
Fireplace Yes
Heat Source Gas
Exterior
Parking Features Front Yard Parking, Private Double
Garage Spaces 6.0
Pool None
Roof Type Flat
Lot Depth 187.01
Total Parking Spaces 12
Building
Unit Features Wooded/Treed,Clear View,Level
Foundation Stone
Listed by IPRO REALTY LTD.