Cross Streets: First Street East. ** Directions: Located on Sydney Street between First Street East and Second Street East. BEAUTIFULLY RENOVATED UNIQUE HISTORIC BRICK BUILDING IN DOWNTOWN LOCATION! Check out this very unique historic building which has been converted to an easy to maintain 5 Plex residential apartment building (5,272 sq.ft. as per MPAC). All renovations were completed with City of Cornwall building permits, inspections and finals approvals. This fully renovated/fully occupied property has an approximate /estimated annual net cash flow of $80,000 (before debt service, depreciation, vacancy & bad debt, management and maintenance). The capitalization rate for this investment property is calculated to be 7.1% at the listing price, based on the income and expenses provided by the seller. Each apartment is finished with hardwood flooring & beautifully updated contemporary kitchens with granite counters & stainless steel dishwasher + bathrooms. The units are spacious, with 4 two-bedroom and 1 one-bedroom with den. All suites feature a 4-piece bath, in-suite laundry, and extras like central self-controlled AC, individual decks, private paved parking, and stainless steel appliances (included). Each unit has its own services with separate meters + the tenants pay their own utilities. Seller requires SPIS signed & submitted with all offer(s) and 2 full business days irrevocable to review any/all offer(s). (id:27476)
