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In Schreiber On. - Cashflowing 2 Buildings - 22 Units - 7% Cap

Not on MLS®

For Sale: Multifamily in Schreiber, ON

Listing Details

Financial Details

Description

Welcome to Schreiber - 2 Hours East of Thunder Bay in the beautiful North Superior. There are no vacancies because there are too few units to rent In Schreiber. Schreiber and Terrace Bay are 2 separate towns that are very much together. Strong Mill industry and CN Rail along with lots of mines in the area. We are selling this WITH another Building - a 10 Plex. THAT IS WHY THE AD SAYS 2 BUILDINGS 1st Building - The One listed 117 CENTENNIAL DR. Schreiber ON Only 1 unit Vacant as it needs work (10K) Roof Needs Replacing (20K) 12 Units - Current Gross = $102,300 No vacancies...There are just not enough units in Schreiber Taxes - $14,609 Insurance - $6286 Water / Sewer - $13,013 Hydro - $7696 Snow / Lawn - $2600 Reliance - $594 Maintenance - $1535 Management - $10,230 (10% management Fee) NOI - $45,738 Second building is as follows 213 -215 LANGWORTHY ST -Schreiber ON Fully Rented New Roof 2018 New Front windows, doors, patio door 2016 NO VACANCIES due to lack of rental units Gross Income - $90,900 Expenses Taxes - $10,700 Insurance - $6286 Water/Sewer - $13,527 Hydro - $4753 Snow / Lawn - $2600 Reliance - $196 Maintenance - $2273 Management - $9090 (10% of Gross Income) NOI - $41,476 TOTAL NOI for BOTH BUILDINGS - $87,214 Asking - $1.2 Mil - Cap RATE - 7.3%

Location & nearby

This listing is located in Schreiber, ON P0T 2S0