Mixed Commercial For Sale
15 Unit Mixed Use Cash Flowing Property
25 Elgin , Sudbury, ON, P3C5B3
JFK Properties Inc. currently has an opportunity to invest in a 15-unit Residential/Commercial mixed-use building in Sudbury, ON.
This building is located 30 yards from Laurentian University, shares a parking lot with Shopper%u2019s Drug Mart and is located on the corner of an intersection. The location is ideal for both the 13 residential units, as well as the 2 commercial units.
A strategic investment plan for the property, would be to increase the property value through rental increases to the residential units, as well as minor cosmetic improvements to the units and common areas of the building.
This property will generate a cash flow of $10,165.88 in the first year. The number is conservative reflecting 5% vacancy rate, 8% property management fee, 5% reserve fund, 5% repairs/maintenance and 5.50% mortgage interest with a 20-year amortization.
This does not include future rental increases of 1.8% per annum, which will provide increases to cash flow each year. This property will continue to cash flow regardless of the economic climate, which signifies strong upside growth opportunity in the long term as well.
Fridge, Microwave, Stove, Washer, Dryer, Beds, Desks, Chairs, Tables, Light Fixtures
Close to All Services, Near Schools, Public Transportation, Recreational/Community center
$13,837 / year
$20,138 / month
||8,196 sq. ft|
|Property Width: ||55.00 ft|
|Property Length: ||50.00 ft|
Land Transfer Tax Calculation Ontario
"The Land Transfer Tax in Sudbury, Ontario based on the selling price of $920,000.00 is $14,875.00."
* See the land transfer tax formula for Ontario