Commercial listings / Investment / For sale
3244 County 41 Road, Greater Napanee, ON K0K 2W0
$598,000
- Property type
- Investment
- Transaction
- For sale
- Location
- Greater Napanee, Lennox & Addington
- Building area
- 0 Acres
- MLS® number
- X14122812
Description
Fully tenanted 5-unit legal non-conforming apartment building generating a strong gross income of $91,380/year with a 10.685% cap rate. Separately metered for hydro with electric baseboard heating and heat pumps as heating sources. Recent upgrades include a newer well producing over 5 PLUS GPM (no trickle system required) and a 10,000-gallon holding tank with approx. $3,550/year in pump-out costs. Select units have seen cosmetic improvements, ensuring tenant satisfaction and reduced maintenance. Located just 10 minutes north of Hwy 401 in the quiet village of Roblin, this low-maintenance rural property offers excellent access to urban centres and is just 2 hours from Toronto or Ottawa. A solid opportunity for investors seeking stable cash flow. Detailed expense sheet available upon request.
Listing brokerage: RE/MAX HALLMARK FIRST GROUP REALTY LTD. , BROKERAGE
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