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Oakridge Apartments 56 S Forster Park Dr 15 Unit Apartment Building For Sale Oakville, ON L6K 1Y7
INVESTMENT HIGHLIGHTS
- Strong upside potential through rental increases on unit turnover (one vacant unit at time of sale).
- Owned laundry machines provide additional income.
- All hydro separately metered and paid directly by tenants.
- Projected Year 1 NOI of $170,877, with further income growth potential.
EXECUTIVE SUMMARY
Located within a 5-minute drive from downtown Oakville, this offering includes a freestanding, 15-unit low-rise apartment building. All units are two-bedroom units, with one unit vacant at the time of sale. The Property benefits from stabilized income, owned laundry facilities, and additional parking revenue. The Property has a projected Year 1 Net Operating Income of $170,877 and is ideal for investors seeking significant upside potential in one of the GTA’s most desirable submarkets. Significant upside potential exists through rent adjustments on tenant turnover, making this an excellent option in a supply-constrained market.
Beyond the strong underlying fundamentals, the Property is well-kept and provides a welcoming atmosphere to tenants. The suites have been renovated upon vacation, and the common areas feature mid-century design details, creating a warm environment that residents are proud to call home.
Beyond the strong underlying fundamentals, the Property is well-kept and provides a welcoming atmosphere to tenants. The suites have been renovated upon vacation, and the common areas feature mid-century design details, creating a warm environment that residents are proud to call home.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.39 AC |
| No. Units | 15 | Building Size | 15,000 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1954 |
| Building Class | C | Parking Ratio | 1.17/1,000 SF |
| Zoning | RM4 - Residential Multifamily | ||
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 15,000 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 1954 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | RM4 - Residential Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 15 | - | 900 |
1 1
Walk Score®
Very Walkable (77)
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Oakridge Apartments | 56 S Forster Park Dr
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