$980,000
Available - For Sale
Listing ID: S10429453
6501 Highway 93 , Tay, L0L 1P0, Ontario
| Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings. |
| Price | $980,000 |
| Taxes: | $3666.24 |
| Tax Type: | Annual |
| Occupancy by: | Tenant |
| Address: | 6501 Highway 93 , Tay, L0L 1P0, Ontario |
| Postal Code: | L0L 1P0 |
| Province/State: | Ontario |
| Lot Size: | 82.51 x 187.01 (Feet) |
| Directions/Cross Streets: | 27 & 93 |
| Category: | Apartment |
| Use: | Apts-6 To 12 Units |
| Building Percentage: | Y |
| Total Area: | 4000.00 |
| Total Area Code: | Sq Ft |
| Financial Statement: | Y |
| Franchise: | N |
| Taxes Expense: | $3666 |
| Insurance Expense: | $4855 |
| Hydro Expense: | $3611 |
| Gross Income/Sales: | $81360 |
| Net Income Before Debt: | $66383 |
| Year Expenses: | 2023 |
| Expenses Actual/Estimated: | $Act |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Part |
| Water: | Municipal |
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This calculator is for demonstration purposes only. Always consult a professional
financial advisor before making personal financial decisions.
| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| IPRO REALTY LTD. |
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Mina Nourikhalichi
Broker
Dir:
416-882-5419
Bus:
905-731-2000
Fax:
905-886-7556
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Simcoe |
| Municipality: | Tay |
| Neighbourhood: | Waverley |
| Lot Size: | 82.51 x 187.01(Feet) |
| Tax: | $3,666.24 |
| Maintenance Fee: | $2,845 |
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