7.3% cap. Most fourplexes that come up need something: units to renovate, rents to catch up, or a hydro bill you inherit. This one needs none of it. All four units are renovated, leased, and separately metered, so tenants carry their own power and your operating exposure stays where you can predict it. The quality of the finishes is why it leases the way it does. Units get picked up quickly and no more vacancy, which is the difference between a building that runs itself and one that runs you. The capital cycle is finished. Roof 2019. High-efficiency furnaces and attic insulation 2020. Roof and eave heating cables 2021. Concrete collar, upper-level siding and storage shed 2022. Paved parking and main-floor air conditioning 2023. Water heater owned, not rented. Solid brick construction, zoned Fourplex, with four parking spaces, shared basement laundry and private entrances for the main-floor units. The businesses of Downtown Orillia, waterfront boardwalk, scenic trails and Lakehead University are all a walk away, which is what keeps the tenant pool deep and the units full. (id:4069)
Address
66 NOTTAWASAGA STREET
List Price
$859,900
Property Type
Multi-family
Type of Dwelling
Multi-Family
Transaction Type
Sale
Area
Ontario
Sub-Area
Orillia
Bedrooms
4
Bathrooms
2
Floor Area
1,804 Sq. Ft.
Lot Size
35 x 130 FT Sq. Ft.
Lot Depth
130 ft
Frontage Length
35 ft
MLS® Number
S13797516
Listing Brokerage
Real Broker Ontario Ltd.
Postal Code
L3V3J4
Zoning
Fourplex
Parking Places (Total)
4
Site Influences
Public Transit, Recreation
Appliances
Dryer, Water Heater, Washer
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Partially air conditioned
Water Source
Municipal water
Sewer
Sanitary sewer
