Brokered by: Century 21 Heritage House Ltd Brokerage
MLS®: X12449811 ()
Price: $1,771,000.00
Address: 285 HIGHWAY 3, Norfolk FOR SALE Postal Code: N4G4G7 Style: Type: Multi-family Multi-Family Bedrooms: 0 Bathrooms: 0 Lot Size: 324 ft ,4 in x 206 ft Property Size: 1.091
About 285 Highway 3
Very well-maintained 7-unit apartment building generating a strong 7.14% cap rate with all units fully leased and tenants in good standing. Unit mix includes 1 two-bedroom, 1 three-bedroom, 2 one-bedrooms, and 3 bachelor apartments, each updated over time between tenancies. Ample on-site parking and a 3,000 sq. ft. insulated and heated detached garage/shop with plumbing, currently used by the owner but easily leasable for hobby use, storage, or small commercial tenantsestimated at ~$2,500/month plus expenses. The property fronts on two roads with access from both, sitting on an irregular 1.09-acre CH-zoned corner lot allowing for multiple future-use opportunities or additional income potential. Gross potential income including shop rental: $148,500/year, 2024 expenses approx. $21,900, net income $126,600. Conveniently located along Highway 3 between Tillsonburg and Delhi. (id:56071). Get more information on 285 Highway 3
Property Features
Features: Irregular lot size Rental Equipment: Directions: Corner of Highway 3 and Jackson Side Rd. Zoning Description: CH Interior Size: 1 ac Lot: 1.091 ac 1.091 Water: , Septic System Heating / Cooling: / Age: 51 to 99 years Basement:
Rooms & Sizes
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John DiRenzo
Sales Representative RE/MAX Centre City John DiRenzo Team Brokerage
Direct Phone: (519) 857-3490
John DiRenzo, Salesperson. Cell: (519) 857-3490. RE/MAX Centre City John DiRenzo Team Brokerage.
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