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
$ 899,000
Est. payment | /mo
5 Baths
5,274 SqFt
$ 899,000
Est. payment | /mo
5 Baths
5,274 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5274
Square Footage 5,274 sqft
Price per Sqft $170
Subdivision Owen Sound
MLS® Listing ID X13711250
Lot Size 5,270 Sqft
Acres 0.121
Property Description
**OVER 10% CAP RATE. FULLY TENANTED. $110,000+ IN GROSS ANNUAL INCOME.** At $899,000, the numbers speak for themselves. 314 8th Street East offers immediate cash flow from a substantially improved mixed-use asset in the heart of downtown Owen Sound. Five income streams under one roof. The 5,274 sq. ft. building combines 4 extensively renovated residential apartments with an established main-floor convenience store secured by a long-term commercial lease with contractual annual rent escalations providing diversified income with built-in growth. And here's what separates this one from the typical income property: the heavy lifting has already been done. Significant capital improvements include a full exterior facelift with new metal siding and stone façade (2024), basement waterproofing (2025), updated electrical (2021), insulated garage (2024), on-demand hot water (2023), automatic WiFi-enabled gated private parking (2023), roof (2015), and extensive renovations to all 4 residential apartments between 2019 and 2022. The approximately 2,537 sq. ft. residential component is 100% occupied, while the established commercial tenant anchors the main floor in a high-visibility downtown location. No lease-up period. No major renovation project. No waiting for future potential to make the numbers work. The income is already here. For investors looking for immediate cash flow, diversified income, significant capital improvements already completed and long-term upside, your money works harder in Owen Sound. Full rent roll, income and expense statement and supporting financials available to qualified buyers. **Vendor Take-Back (VTB) financing may be available.** (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Listed by Keller Williams Experience Realty
Schools and Properties Nearby
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty