REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,899,900
Est. payment | /mo
14 Beds
8 Baths
5,000 SqFt
$ 1,899,900
Est. payment | /mo
14 Beds
8 Baths
5,000 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 - 100000
Square Footage 5,000 sqft
Price per Sqft $379
Subdivision Zurich
MLS® Listing ID X12945598
Bedrooms 14
Property Description
ATTENTION INVESTORS! Exceptionally easy to manage 6-Cap 8-Plex opportunity generating approximately $120,000 in annual net income: a true Huron County money maker just minutes from Grand Bend, Exeter, and Bayfield, and one of the most effortlessly run rental properties along Ontario's West Coast! This 9-unit multiplex consists of 8 residential apartments plus a superintendent's workshop unit with plumbing, all in excellent condition and fully functional in terms of fixtures and chattel. Currently, 7 units are occupied by long-standing, happy tenants, with one vacant 2-bedroom unit ideal for owner occupancy or immediate lease-up. In total, the building offers six 2-bedroom units, two 1-bedroom units, plus the workshop unit, along with multiple storage rooms and a dedicated meter room. All nine units are separately metered for hydro, simplifying management and expenses. The thoughtfully designed layout includes a 1-bed and 2-bed unit on the ground level, a 1-bed and two 2-bed units on the main level, and three 2-bed units with balconies on the upper level. Every unit is equipped with owned appliances, including in-suite washers & dryers, a fan-favorite feature among tenants. Two large owned hot water heaters are also included. Tenants pay hydro, and operating costs are remarkably low at approximately $15,000-$17,000 annually, resulting in strong and reliable net income for an 8-plex plus workshop unit. All fire code requirements are up to date, the metal roof and insulbrick/vinyl exterior are in excellent condition, and both landscaping and maintenance are refreshingly simple. All debentures have been paid! Located in the heart of Zurich, Ontario, just five minutes from beautiful Lake Huron beaches, this property represents incredible value when compared to today's replacement construction costs. As a turnkey, mindless money-maker and a rare 6-cap income property that stands out among recent multi-plex sales in Huron County, this opportunity will not last long. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling Window air conditioner
Exterior
Parking Features No
Community Features Community Centre
View Y/N No
Total Parking Spaces 13
Private Pool No
Building
Story 3
Sewer Sanitary sewer
Listed by ROYAL LEPAGE TRILAND REALTY
Schools and Properties Nearby
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty