CAONTimminsTimmins South - West181 Preston St
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181 Preston St, Timmins, ON

Real Estate

For Sale

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656

MLS® T12700192

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage Yes
Taxes $5,097
Days Active 0
Lot Size 
Approx. Age 
MLS® Number T12700192

Property Address: 181 Preston St, Timmins, ON, P4N3N4

Average square foot calculated using Size range provided by listing agent.

Description

This legal four-plex is located in a strong, desirable neighborhood directly beside the newly constructed Francophone Health Centre, making it an ideal long-term investment with stable tenant demand. The property is fully income producing and offers a solid revenue stream with excellent upside. The building consists of four self-contained units with a strong rental mix. The current rental income totals $4, 850 per month or $58, 200 annually. The main unit at 181 Preston rents for $2, 000 per month plus utilities. Unit A at 147 Middleton rents for $850 per month plus utilities. Unit C at 147 Middleton rents for $880 per month with the owner paying hydro. Unit D at 147 Middleton rents for $1, 120 per month plus hydro. Operating costs are well managed. Water and sewer are approximately $4, 824 annually, property taxes are $5, 592 per year, Reliance hot water rental is $759.24 per year, insurance is $2, 959.20 annually, and hydro for one unit is approximately $1, 260 per year, for total operating expenses of $16, 654.44 annually. This produces a net operating income of approximately $41, 545.56 per year. Based on an asking price of $399, 900, the property delivers an approximate 10.4% cap rate, making this an exceptionally strong cash-flowing investment. This is a rare opportunity to acquire a legal four-plex in a prime location with proven income, excellent tenant demand, and outstanding investment fundamentals. MPAC 324, Total Sq.Footage 2200, Hydro Tenants, Heat $1140 /12mths, Water-Sewer $4356 / year. (id:58753)Show Description
MLS® NumberT12700192
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age
BasementFinished, N/A
DrivewayNo Garage
Garage Spaces
Heat
A/C
Heating Fuel

Extras

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Commute

Starting Address
Destination Address
181 Preston St, Timmins, ON

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