Discover an outstanding residential and commercial investment in Russell, boasting a spacious 4800 sqft all brick building with a basement area. Currently, the main floor hosts four leased commercial units, while upstairs features three apartments: two 2-bedroom and one 3-bedroom. The basement includes pay laundry facilities and individual storage lockers for each unit. With a large heat pump boiler system ensuring efficiency, this property offers 26 parking spots and a compelling 5.9% cap rate. Gross Operating Income stands at $122,118 (excluding Commercial HST), with Operating Expenses of $33,401.15, resulting in a Net Operating Income of $88,716.85 (excluding Commercial HST). Commercial AC Units x 4 replaced in 2022. With its prime location and high rental demand, this investment opportunity in Russell is not to be missed. Schedule a viewing today to secure your position in this flourishing market.
MLS# | X9515522 |
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Listing Type | For Sale |
Style | Other |
Sub-Type | Resale |
Status | Active |
Days On Site | 14 |
Listing Provided By | AVENUE NORTH REALTY INC. | Not Provided |
Zoning | 471 |
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Province | ON |
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County | Russell |
City | Russell |
Postal Code | K4R 1B8 |
Area | Prescott and Russell |
Community Name | 601 Village of Russell |
Listing VS Median (in 601 Village of Russell) | |
Price: $1,499,900 low | high Med: $0 On Site: 14 low | high Med: |