Cross Streets: Laurier St to Friel Street. ** Directions: King Edward Ave south, left on Laurier than left on Friel ST. Welcome to 360 Friel StreetAn exceptional turnkey investment opportunity featuring 16 residential units with separate hydro meters, comprised of:9 fully renovated and refurbished units7 newly constructed additional units (construction recently completed)Unit Breakdown:1 Three-Bedroom Unit3 Two-Bedroom Units2 One-Bedroom Units10 Studio UnitsAll units are fully furnished and separately metered, offering operational efficiency, reduced utility risk, and strong tenant appeal. The seller is willing to lease all units, providing investors with a stabilized, income-producing asset from day one.Income OverviewProjected Residential Rental Income: $402,420.00Parking Income: $1,800.00Laundry Income: $3,780.00Total Projected Gross Income:$408,000.00 AnnuallyProjected 2026 Operating ExpensesVacancy (2%) - $8,084.00Property Taxes (5.42%) - $21,484.00Utilities (5.82%) - $23,064.00 (Heat, Water, Hydro)Repairs & Maintenance (4%) - $15,845.00Property Management (3.96%) - $15,687.00Property Insurance (6.85%) - $27,125.00Advertising (0.5%) - $1,981.00Total Projected Operating Expenses:$113,270.00Financial SummaryGross Income: $408,000.00Less Operating Expenses: $113,270.00Estimated Net Operating Income (NOI):$294,730.00 Annually This newly completed, fully furnished multi-unit property presents a rare opportunity to acquire a modern, income-generating asset with strong projected returns and long-term growth potential. (id:27476)
