Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings. (id:56069)
| MLS® Number | S9859924 |
| Property Type | Multi-family |
| Community Name | Waverley |
| Features | Level Lot, Wooded Area |
| Parking Space Total | 12 |
| View Type | View |
| Bathroom Total | 6 |
| Bedrooms Above Ground | 7 |
| Bedrooms Total | 7 |
| Amenities | Separate Heating Controls |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Stucco, Vinyl Siding |
| Fireplace Present | Yes |
| Foundation Type | Stone |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 3,500 - 5,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 187 Ft |
| Size Frontage | 82 Ft ,6 In |
| Size Irregular | 82.5 X 187 Ft |
| Size Total Text | 82.5 X 187 Ft |
| Zoning Description | Residential |
| Cable | Installed |
https://www.realtor.ca/real-estate/27602606/6501-highway-93-tay-waverley-waverley
Contact us for more information
Matthew Metzler
Broker
(416) 364-4776
(416) 364-5546
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