320 LAKE ST STREET , Pembroke Ontario K8A5M2

Sale $4,500,000 |

Listing # 1347315

Craig Edmonds

Sales Representative

Phone: 613-735-1062
Fax: 613-735-2664
Mobile: 613-633-7653

craigedmonds@royallepage.ca

http://www.craigedmonds.ca

Royal LePage Edmonds & Associates, Brokerage (Independently owned and operated)

Brokerage

270 LAKE STREET
Pembroke, ON K8A7Y9

Phone: 613.735.1062
Fax: 613.735.2664
scott@royallepage.ca

Remarks:

Constructed in 2017/18, this 16-unit building just two blocks from Algonquin College in downtown Pembroke features 15 three-bedroom suites and 1 one-bedroom suite, all with appliances (fridge/stove/dishwasher) and furniture package. Projected gross income from rental and parking for 2023 projected at $410,310/annum. Seller's expenses in 2022 as follows: advertising and promotion: $307; insurance: $17,779; laundry (card/lease) and cleaning: $15,436; management fees: $20,340; property taxes: $28,961; grounds, maintenance & repairs: $28,961; utilities and security, Internet included: $49,182; professional fees: $3,497, office: $543. Total before debt service for 2022 is $162,499. Assuming a 2% increase in operating expenses and projected income for 2023 of $244,561 with projected cap rate asking at 5.4%. Parking is assigned with overflow available. The age of the property is technically 0-5 years (occupied September 2018). Laundry is coin (actually card) operated. (id:27)

Investment

Neighbourhood:	Algonquin College Pembroke
Lot Frontage:	252.0 Feet
Lot Size:	252 ft X 0 ft (Irregular Lot)
No. of Parking Spaces:	21
Built in:	2016
Zoning:	R4-32

Property Features:

Ownership Type:	Freehold
Property Type:	Multi-family

Royal LePage Edmonds & Associates, Brokerage (Independently owned and operated)

Brokerage

270 LAKE STREET
Pembroke, ON K8A7Y9

Phone: 613.735.1062
Fax: 613.735.2664
scott@royallepage.ca

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