For Sale: 28 Mathew Street (13 Units)

Walking distance to Downtown!  13 units (4 x 2BR, 7 x 1BR, 2 x Bachelor) fully occupied with upside in the rental rates.  Shows Net Operating Income after expenses of $72,182 with potential for increased profits.  Many recent upgrades, but some repairs are needed (rear siding, common area spruce-up, unit upgrades).  Tenants pay their own hydro (with the exception of 2 bachelor units).  Coin operated laundry.  2010 Retrofit Certificate.  Effective CAP Rate of 8.75% (including Purchase Price + $75K Capital Improvement Budget) and effective price of $63k/door.  See Documents for Cashflow projections and Rent Roll.

Listing ID: MLS#6364
Asking Price: $750,000
Taxes / CAM: $13,740
Zoning: R2-3 (LNC)
Square Footage: 6,686 sq ft
December 3, 2014

Location:

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