13 Dupont St, Smooth Rock Falls, Ontario P0L 2B0

From Highway 11 turn on Dupont Talk about an income opportunity with a cap rate over 10%. 61,092$ Gross income per year. Approximately 21,879$ expenses per year. Approximately 39,212$ net operation income per year. 3-unit apartment building with a storage garage. Unit-A has 4 bedrooms. Unit-B has 2 bedrooms. Unit-C has 3 bedrooms. All 3-units have basements for extra storage with there own forced air furnaces installed in 2018, and laundry areas with washers and dryers. Appliances for all units are included. Most large furniture and televisions in unit-A are included. Landlord presently supplies internet to the tenants. Utilities are included in the rents. 2021 the 3 hot water tanks were eliminated to update pluming and have 1 hot water on demand system to supply all 3 units. 2022 hydro was updated to go from 3 meters to 1 meter, the electrical stack coming in to the building was updated, the main 200-amp electrical panel was updated to breaker system. The roof shingles and front eaves were completed approximately 6 years ago. Back eaves were completed in 2022. Building has 2 sump pumps. With the potential of nickel mines opening in the near future in the surrounding area this could be a great investment opportunity. (id:27476)

Here is a fantastic income opportunity with a cap rate of over 10%. The property generates a gross income of $61,200 per year, with approximately $22,000 in annual expenses, resulting in a net operating income of around $39,000 per year.

This 3-unit apartment building also includes a storage garage. Unit-A features 4 bedrooms, Unit-B has 2 bedrooms, and Unit-C has 3 bedrooms. Each unit comes with its own basement for extra storage, forced air furnaces installed in 2018, and laundry areas equipped with washers and dryers. Additionally, all units come with appliances, and most large furniture and televisions in Unit-A are included. The landlord currently provides internet to the tenants, and utilities are included in the rents.

In 2021, the property underwent updates, including the elimination of 3 hot water tanks in favor of a single hot water on demand system to supply all 3 units. In 2022, the electrical system was also updated, with the hydro going from 3 meters to 1 meter, and the main 200-amp electrical panel being updated to a breaker system. The roof shingles and front eaves were completed approximately 5 years ago, with the back eaves being completed in 2022. The building is also equipped with 2 sump pumps.

With the potential of nickel mines opening in the surrounding area in the near future, this property presents a great investment opportunity.

This property is located at 13 Dupont St in Smooth Rock Falls, Ontario. It sits on a land size of 0.33 acres and is equipped with central air conditioning and forced air heating. The property is a multi-family type with 1 story.