182 12th Street Hanover, Ontario N4N 1T8
$1,300,000
Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:54532)
Property Details
MLS® Number | X12436997 |
Property Type | Multi-family |
Community Name | Hanover |
Equipment Type | None |
Features | Carpet Free |
Parking Space Total | 9 |
Rental Equipment Type | None |
Building
Bathroom Total | 6 |
Bedrooms Above Ground | 6 |
Bedrooms Below Ground | 2 |
Bedrooms Total | 8 |
Age | 100+ Years |
Amenities | Separate Electricity Meters, Separate Heating Controls |
Appliances | Water Heater - Tankless, Water Heater, Water Meter, Water Treatment, Stove, Refrigerator |
Basement Development | Finished |
Basement Type | Full (finished) |
Cooling Type | Window Air Conditioner |
Exterior Finish | Brick |
Foundation Type | Stone |
Heating Fuel | Natural Gas |
Heating Type | Other |
Stories Total | 3 |
Size Interior | 2,500 - 3,000 Ft2 |
Type | Other |
Utility Water | Municipal Water |
Parking
No Garage |
Land
Acreage | No |
Sewer | Sanitary Sewer |
Size Depth | 132 Ft |
Size Frontage | 76 Ft ,6 In |
Size Irregular | 76.5 X 132 Ft |
Size Total Text | 76.5 X 132 Ft |
Zoning Description | R5-31 |
https://www.realtor.ca/real-estate/28933906/182-12th-street-hanover-hanover
Contact Us
Contact us for more information
John Metcalfe
Salesperson
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