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3 Church St 21 Unit Apartment Building $4,398,888 CAD ($209,471 CAD/Unit) 4.45% Cap Rate St Catharines, ON L2R 3B1
Investment Highlights
- Downtown location with lots of local amenities
- 14 of the 21 units are already renovated with below market rents
- Easy access to 406 and QEW
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$295,678
|
$11.34
|
| Other Income |
$4,788
|
$0.18
|
| Vacancy Loss |
$5,914
|
$0.23
|
| Effective Gross Income |
$294,552
|
$11.30
|
| Taxes |
$31,619
|
$1.21
|
| Operating Expenses |
$63,638
|
$2.44
|
| Total Expenses |
$95,257
|
$3.65
|
| Net Operating Income |
$199,295
|
$7.64
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $295,678 |
| Annual Per SF | $11.34 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,788 |
| Annual Per SF | $0.18 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,914 |
| Annual Per SF | $0.23 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $294,552 |
| Annual Per SF | $11.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $31,619 |
| Annual Per SF | $1.21 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $63,638 |
| Annual Per SF | $2.44 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $95,257 |
| Annual Per SF | $3.65 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $199,295 |
| Annual Per SF | $7.64 |
Property Facts
| Price | $4,398,888 CAD | Building Class | C |
| Price Per Unit | $209,471 CAD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 26,070 SF |
| Cap Rate | 4.45% | No. Stories | 3 |
| No. Units | 21 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 0.19/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Multifamily Residential | ||
| Price | $4,398,888 CAD |
| Price Per Unit | $209,471 CAD |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 26,070 SF |
| No. Stories | 3 |
| Year Built | 1922 |
| Parking Ratio | 0.19/1,000 SF |
| Zoning | Multifamily Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $1,225 CAD | 400 - 500 |
| 1+1 | 9 | $1,475 CAD | 550 - 650 |
| 2+1 | 6 | $1,950 CAD | 650 - 800 |
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