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$809,500
Available - For Sale
Listing ID: S12246046
Solid 7-unit mixed-use building in downtown Coldwater, consisting of 6 residential one-bedroom units and 1 long-standing commercial tenant. Current rents offer a compelling 45% upside to market, making this a strong long-term investment with immediate growth potential. Vendor may consider a first-position VTB up to 70% loan-to-value, offering a compelling opportunity to reduce capital outlay. All tenants pay their own hydro, and each residential unit is equipped with its own furnace, keeping operating costs low. The roof was replaced in 2023, and the property has been well-maintained throughout. Priced attractively at $115,000 per unit with a 5.8% cap rate in place. This building forms part of a broader portfolio featuring 29 residential and commercial units, all located on the same block ideal for buyers seeking scale and efficiency in an emerging rental market.
Price $809,500
Taxes: $6,190
Tax Type: Annual
Assessment Year: 2024
Occupancy by: Tenant
Address: 24 Coldwater Road West , Severn, L3V 3L1, Simcoe
Postal Code: L3V 3L1
Province/State: Simcoe
Directions/Cross Streets: Sturgeon Bay Rd / Coldwater Rd
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Category: Apartment
Building Percentage: T
Total Area: 5,000
Total Area Code:  Square Feet
Maintenance: 0
Heat Type: Gas Forced Air Close
Central Air Conditioning: Partial
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Asking Price: $ Heating: $ /Year  
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EXP REALTY

24 Coldwater Road West , Severn, L3V 3L1, Simcoe


 
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Type: Com - Investment
Area: Simcoe
Municipality: Severn
Neighbourhood: Coldwater
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Tax: $6,190
Maintenance Fee: $0
Beds: 0
Baths: 0
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Fireplace: N
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