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184 Simcoe St 4 Unit Apartment Building $744,900 CAD ($186,225 CAD/Unit) 7.62% Cap Rate London, ON N6B 1H9
EXECUTIVE SUMMARY
$5,500 Income Per Month! Well Managed, Turn key in Good repair! Brick building with 5 + parking, 4 Separate meters, Coin Washer & Dryer. Unit#1($1,650/m) 1 + Den, Front door renovated: Unit#2($1,050/m): Access through rear, 1 Bed, renovated Unit#3($1,332/m): Access through rear main level door, 1 Bed, Unit#4($1,230/m): Access through rear lower level door, 1 Bed+den, Coin Laundry ($150/m): All units heated by baseboard electric. Deep lot for additional potential. R3-1 Zoning allows Fourplex. Landlord pays electric meter for common area coin laundry, Storage & utility room. Deep Lot, Additional potential ZONING ALLOWS PARKING IN REAR. Take advantage of Vendor Financing 6.5% interest. After Mortgage, insurance, utilities NET Income positive cashflow $1,362.10/m, Vendor Mortgage = $3,367/m; Collect rents+laundry = $5,500/m, Property taxes - $287/m, Utilities/Insurance - $496/m. NET INCOME $56,749.
PROPERTY FACTS
| Price | $744,900 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $186,225 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.62% | Building Size | 6,300 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Zoning | R3-1 - residential | ||
| Price | $744,900 CAD |
| Price Per Unit | $186,225 CAD |
| Sale Type | Investment |
| Cap Rate | 7.62% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 6,300 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | R3-1 - residential |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,650 CAD | - |
| 1+1 | 1 | $1,050 CAD | - |
| 1+1 | 1 | $1,332 CAD | - |
| 1+1 | 1 | $1,230 CAD | - |
1 1
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (85)
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184 Simcoe St
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