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7 Beds 6 Bath 3500-5000 sqft

6501 Highway 93

Tay L0L 1P0 Ontario

MLS: S9859924

$980,000

Added 3 days ago | For Sale

Listed by: IPRO REALTY LTD.

About Property

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.

Features

  • House Style:Multiplex
  • Bathrooms:6
  • Land Size:
  • Water:Municipal
  • Garage Spaces:0 /None
  • Driveway:Front Yard
  • Heating Fuel:Gas
  • Cross Street:Hwy 93 & Vasey Rd.
  • Basement:Unfinished ,
  • Possession Date:ASAP
  • Annual Property taxes: $3666.24
  • Bedrooms:7
  • Total Parking Spaces:12
  • Parking Places:6
  • Heating Type:Forced Air
  • Pool Type:None
  • Exterior:Stucco/Plaster
  • Fronting On:E
  • Front Footage:82.51
  • Listing ID:S9859924

Rooms Dimensions Description

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Average Sale Prices per Month in Tay
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7 Bedrooms Multiplex House Tay
Monthly Sales Trends in Tay
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7 Bedrooms Multiplex House Tay
Avg Price for 7 Bedroom Multiplex house in Tay
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