207 ROSS Street , St. Thomas

12 Bed / 12 Bath / $1,299,000 / MLS® Listing #:40115899

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Stress Free Investment Opportunity: 5 year old purpose built 12 plex - ENTIRE BUILDING IS FULLY LEASED by CMHA-Elgin until 2042 ( CMHA-Elgin fully responsible for ALL tenant dealings, vacancy loss and interior maintenance of all units- 100% occupancy rent paid monthly with automatic annual rent increases in accordance with rent increase guidelines of the RTA) Owned 10kw Microfit Solar Panel Installation (under contract until 2037), Entire Building constructed with emphasis on low maintenance + low energy consumption: Energy Star Windows, Energy Star Appliances (see chattel list), LED lighting throughout, low flush toilets, high efficiency boilers. Etc. Preferential Property Tax Reduction until 2042 (property tax savings of $9765.52 for 2020 tax season!) 12- One bedroom units (4 of which are barrier free) Controlled Entry, rear ramp with power assisted door, security camera system. Entire Building in as new condition. 2020 Gross Annual Income $82060.95, Net Income $50972.37 = Cap Rate of 3.92% (much better than any GIC) Building developed with assistance from Investment in Affordable Housing Initiative, Buyers agrees to assume obligations under IAH Agreement, which includes assuming existing Corporation that holds property, assumable mortgage of approx $229,000 but no additional financing can be added on title, CASH BUYER is required. Showings permitted with accepted offer only (id:10452)

Property Details

Property Type Multi-family
Square Feet 9726.0000
Maintenance N/A
Days On Our Website 173
Basement Finished - Full (Finished)
Lot Dimensions under 1/2 acre
Pool N/A
Area St. Thomas
Air Conditioning None
Heating - Hot water radiator heat
Exterior Vinyl siding
Parking Type Visitor Parking,Visitor Parking
Sewers Municipal sewage system
Water Municipal water


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