$199.08 Per Sq Foot $7,193 est/mo Sourced by Back At You

313 Midland Avenue,Midland, ON L4R 3K5

Midland ON, L4R 3K5

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Description

Steps from the shore of Georgian Bay in Midland's bustling downtown sits this 11 unit, fully tenanted multi-res building. This 3 storey structure features an assortment of layouts and updated spaces, with 4 units on each of the first two floors, and 3 units on the third floor. High historical demand for these dwellings suggests a prospective investor may expect stable income, at a cap rate of 6.5%. When properly configured, the parking area allows for a minimum of 8-10 vehicles. The basement contains multiple storage units, a laundry area, a modest office, utility rooms, and a workshop which could be converted for other applications (including residential). Most units enjoy forced air heat, except two which use electric baseboard. Tenants run their own air conditioning units in warmed months. Reach out today for more information on this excellent investment opportunity

Details

MLS#40615172
Listing TypeFor Sale
Sub-TypeResale
StatusActive Under Contract
Days On Site17
Listing Provided BySotheby's International Realty Canada, Brokerage (A) | Michael Decarli

Features

SQ Feet6,731
BasementY
Story(s)3
ZoningDC-F2
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Learn More About This Property

ProvinceON
RegionSimcoe County
CityMidland
Postal CodeL4R 3K5
AreaMD Midland
SubareaMD01 East of King Street
Community NameMD01 East of King Street
Listing VS Median (in MD01 East of King Street)
Price:
$1,340,000
low | high
Med:
$599,000
100% of Average
SqFt:
6,731
low | high
Med:
1,120
100% of Average
$ / SqFt:
$199
low | high
Med:
$535
100% of Average
On Site:
17
low | high
Med:
41.000000
41.463414634146% of Average
Sourced by Back At You
Listing Updated: July 8, 2024 at 9:43:01 AM PDT