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MLS® ID: 1174913

188-192 RAGLAN STREET S

Renfrew, Ontario, K7V1R1

$329,900 Active
  • - SQFT
DIAMOND in the rough... Flip property- CASH FLOW WHILE YOU RENOVATE! ADD VALUE and refinance or sell for a profit! Selling for less than $100 a sq ft! Gross income starting Mar 1: $42,000/yr (upstairs office is vacant - can be converted to residential apartments) - Expenses; $13,804/yr. TOTAL CURRENT NOI: $28,196/yr. BUT... the upstairs is vacant. Do you want to use it for an OFFICE? Or fix and flip OR fix and hold as Residential apartments? Details: Two retail spaces ($2000 and $1500) and Office space upstairs (vacant - est. $1700/mo) can be converted to apartments (Seller has engineer drawings for a layout of 3 apartments + office space, avail upon request). Approx 4500 sq ft total (2250 each floor). If you keep as office upstairs and rent it at that rate the Projected NOI is $48,596/yr. IF you make it apartments, it could be $60,008/yr (projected). EITHER WAY... This is can be your cash cow! Currently cash flowing without upstairs rented... call now! (id:18098)
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Listing courtesy of RE/MAX HALLMARK REALTY GROUP

Amenities

  • Postal
    K7V1R1
  • Full baths
    0
  • Half baths
    0
  • Property type
    Retail
  • Community name
    Renfrew
  • Year built
    1900
  • Agent name
    Moe McIlwain
  • Price Range
    $300k-$400k
  • Year Built Range
    1989 (and earlier)
  • Total Baths
    0
  • Brokerage
    RE/MAX HALLMARK REALTY GROUP
  • Office ID
    283783
  • Agent ID
    1586555

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