| Cobalt, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: ASAP
** Realtors bring us a client and add your commission on top of the purchase price**
The Seller will offer a full rental guarantee for the first year from the date of closing. Any shortfall between rent collected and the proforma rent roll will be paid for by the seller.
About the Property
Attention investors looking to add THREE multiplexes into their portfolio totaling 26 doors, all within 2 minutes from each other! This portfolio consists of a 5-unit, 10-unit, and an 11-unit building. Property management is already in place for another year. A number of units have already been renovated and will come fully tenanted. Financials as a whole portfolio and for each property can be found below. The seller would like to sell all together but may consider selling each separately. ACT NOW BEFORE IT’S GONE!
About the Neighbourhood
The properties are located North of Cobalt in a desirable location. The town is known for its birthplace of Canadian hard mining. While the population of Cobalt is relatively small, the demand for renting is relatively high given the nature of the town. The town has everything one needs to enjoy life such as grocery stores, restaurants, gas stations, museums, theatre and much more. Cobalt is located 2.5 hours north of Sudbury.
Property Details
Prospect Avenue 1st
- Legal 5-plex
- Each unit contains 2 beds 1 bath
- Unit 4 was recently renovated
- One parking spot for Unit 3
- Fully tenanted
- Some stucco falling off the exterior
- Seller unsure of age of roof/windows
- HWT was replaced in 2021/2022
- Rent is all inclusive
- Property management in place for 1 more year
- Breaker panel, copper wiring, as per seller
- In suite laundry
- Property taxes are $2107
- Lot size is 38ft x 54ft
- Zoning M2
Prospect Avenue 2nd
- Legal 10-plex
- All units were recently renovated
- Parking for each unit
- Fully tenanted
- Partial roof replacement in 2021
- Seller unsure of age of windows
- HWT/Furnace and A/C are about 10 years old, as per seller
- Rent is all inclusive
- Property management in place for 1 more year
- Breaker panel, copper wiring, as per seller
- In suite laundry
- Property taxes are $3874
- Lot size is 60ftx109ft
Aregentite Avenue
- Legal 11-plex
- Three – 2 beds 1 bath
- Four – 1 beds 1 bath
- Four – Bachelor
- 8/11units were recently renovated
- No parking or laundry
- Fully tenanted
- Roof/Windows were replaced in 2019, as per seller
- HWT/Furnace and A/C are about 10 years old, as per seller
- Rent is all inclusive
- Property management in place for 1 more year
- Breaker panel, copper wiring, as per seller
- In suite laundry
- Property taxes are $7351
- Lot size is 100ft x 65ft
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