817 Prince St Hearst, Ontario P0L 1N0
19440
Baseboard Heaters, Boiler
$1,750,000
Calling all experienced residential investors! This residential income property is a 15-unit apartment building that is bringing in an annual gross income of $133,669.20. The layout of this property consists of 4 3 bedroom units on the first, second, and third floor and of 3 units in the basement, 2 of which are 3 bedroom apartments and 1 unit is a bachelor. Each unit has its own individual 100amp electrical panel and hot water tank. The building offers a large parking area for tenants, each tenant has access to 2 reserved parking spots. Tenants also have access to an individual storage unit located in the basement (4 x 10), a laundry room also located in the basement (currently bringing in $4,500 of profit, this amount is included in the total annual gross income), and a storage locker for laundry supplies. The property is also equipped with security cameras and an alarm system. The tenants pay for their own heating (electric) and hydro costs. The building has seen many extensive renovations in the past few years, 9 of the 15 units have been completely redone following a fire in one of the apartments in 2022. The membrane roof, the roof insulation, and the soffit have all been completely redone in 2022. One unit has been repainted and has had new cabinets and flooring installed in 2022. Another unit has had the ceiling redone and was repainted in 2022. The 4 units which were not affected by the fire were all repainted from 2019 to 2022. The property has been appraised in June of 2023, the appraisal is available to potential buyers under certain conditions. A retrofit compliance letter and occupancy permit are also available. All tenants have renter’s insurance in place. This is a golden opportunity to expand your real estate portfolio! Unit #13: 302 | 3LVL | TEN | 735 | 3 | YES | YES | 1ST | YES | 735 Unit #14: 303 | 3LVL | TEN | 725 | 3 | YES | YES | 1ST | YES | 725 Unit #15: 304 | 3LVL | TEN | 671 | 3 | YES | YES | 1ST | YES | 735 (id:39666)
Property Details
| MLS® Number | TM231529 |
| Property Type | Multi-family |
| Community Name | Hearst |
| Communication Type | High Speed Internet |
Building
| Age | 50 Years |
| Amenities | Laundry Facility |
| Appliances | Alarm System |
| Basement Type | Full |
| Heating Type | Baseboard Heaters, Boiler |
| Stories Total | 3 |
| Size Interior | 19440 |
| Utility Water | Municipal Water |
Parking
| Gravel |
Land
| Access Type | Road Access |
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Frontage | 132.0000 |
| Size Irregular | 0.5 |
| Size Total | 0.5 Ac|1/2 - 1 Acre |
| Size Total Text | 0.5 Ac|1/2 - 1 Acre |
Utilities
| Cable | Available |
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/25926587/817-prince-st-hearst-hearst
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August 09 2023 09:20:20
Timmins, Cochrane & Timiskaming District Association of REALTORS®
RE/MAX Crown Realty (1989) Inc
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