This legal four-plex is located in a strong, desirable neighborhood extremely close to 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.
Details
T12700192
6
$399,900
Tenant
None
4 + 4
2-Storey
6
5
2000-2500 Sqft
N/A SquareFeet
N/A
Fourplex
Sale
Additional details
Forced Air / Gas
NA-R3
$5097
2025
PCL 3594 SEC SEC SRO; PT LT 19 PL M48T MOUNTJOY; PT LT 20 PL M48T MOUNTJOY PT 1, 6R3945; RESERVING TO THE TEMISKAMING AND NORTHERN ONTARIO RAILWAY COMMISSION THE RIGHT TO CROSS SAID LANDS AND TO LAY DOWN THEIR RIGHT OF WAY NINETY-NINE FEET IN WIDTH ON AND OVER SAID LANDS OR ANY PART THEREOF AS MAY HEREAFTER BE FOUND NECESSARY OR EXPEDIENT; SAID RESERVATION TO BE OF THE SURFACE RIGHTS ONLY IN ACCORDANCE WITH THE TERMS OF AN ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL DATED 13TH JANUARY,
N/A
N
Finished
1
Central Air
Municipal
Schools Nearby
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FAQ
What is the total square footage of the T12700192 - 181 Preston Street, Timmins, ON P4N 3N4?
The total square footage of this property is 2000-2500 SqFt.
What schools near to T12700192 - 181 Preston Street, Timmins, ON P4N 3N4?