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. (id:50947)
| MLS® Number | 1378535 |
| Property Type | Multi-family |
| Neigbourhood | Russell |
| Parking Space Total | 26 |
| Constructed Date | 1995 |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air, Heat Pump |
| Stories Total | 2 |
| Utility Water | Municipal Water |
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 100 Ft |
| Size Frontage | 125 Ft |
| Size Irregular | 125 Ft X 100 Ft |
| Size Total Text | 125 Ft X 100 Ft |
| Zoning Description | 471 |
https://www.realtor.ca/real-estate/26544885/191-castor-street-russell-russell
Contact us for more information
Joey Van Benthem
Broker
(613) 231-3000
www.avenuenorth.ca
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The Reitzels
Keller Williams Innovation
640 Riverbend Drive
Kitchener, ON N2K 3S2
Phone: 519-570-6299 or
519-570-4447
Email: info@TheReitzels.com
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