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$2,675,000
Available - For Sale
Listing ID: X7401576
Historic Red Brick Apartment Buildings in quaint Colborne. Imagine this investment in a growing town 130 kms from Toronto! Own a big chunk of the Main Street in this growing Quaint Downtown close to Lake Ontario and on the King's Highway.Mixed-Use Income Units: 9 Residential & 3 Commercial facing Quaint Downtown Main Street. Well-updated & proudly commanding a 75 ft swath of frontage in the bustling downtown & historic King Street E in Colborne, ON.Historic buildings have modern updates including large large cement patio terrace in front w/ contemporary railings paid for and maintained by the town!Cool Tin ceiling & wood banister & heritage details add character in some areas of the buildings. Well-Updated & maintained units.These buildings are sited on a large lot w/ so much parking in back.Full basement houses mechanicals, 10 yrs new furnace for Laundromat business & sep. meters + lots of storage. Well-tenanted. Commercial Tenants just renewed leases. On-site Property Manager! BONUS! Sale includes solid income from the only Public Laundromat Business in the vicinity including all machines. Superintendent onsite in exchange for partial rent abatement. Separate Electrical Meters. Good Commercial tenants: Retail, Office. Excellent Turnkey Income generating! Fire retrofit/update in process. Income & Expense Sheet available.
Extras:   Furnace 10 years. Windows: 2016-2019. Common Area updated. Some Waterproofing/Repair to exterior '23. Cement Patio, Railings. Roof in good shape Steel w/Spray Foam. Sep Metres. Income & Expense Sheet available.
Price $2,675,000
Taxes: $16,311.14
Tax Type: Annual
Occupancy by: Tenant
Address: 33-39 King St East , Cramahe, K0K 1S0, Ontario
Postal Code: K0K 1S0
Province/State: Ontario
Lot Size: 75 x 167.22 (Feet)
Directions/Cross Streets: King St E & Maybee
Zoning: VC
Category: Apartment
Use: Apts-6 To 12 Units
Building Percentage: Y
Total Area: .36
Total Area Code:  Acres
Area Influences: Rec Centre  
Taxes Expense: $16311
Insurance Expense: $10198
 Management Expense: 9812
Maintenance: 3,000
 Heat Expenses: $4014
 Hydro Expense:  $3703
Water Expense: $8095
Gross Income/Sales: $219977
Operating Expenses: $50122
Net Income Before Debt: $169856
Year Expenses: 2023
Expenses Actual/Estimated: $Est
Outside Storage: N
Crane: N
Heat Type: Elec Forced Air
Central Air Conditioning: Part
Sewers: San+Storm
Water: Municipal
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CENTURY 21 ALL-PRO REALTY (1993) LTD.

33-39 King St East , Cramahe, K0K 1S0, Ontario


 
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Type: Com - Investment
Area: Northumberland
Municipality: Cramahe
Neighbourhood: Colborne
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Lot Size: 75.00 x 167.22(Feet)
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Tax: $16,311.14
Maintenance Fee: $3,000
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Baths: 12
Garage: 0
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