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$ 1,049,000
Est. payment | /mo
8,000 SqFt
$ 1,049,000
Est. payment | /mo
8,000 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 8000
Square Footage 8,000 sqft
Price per Sqft $131
Subdivision Princeton
MLS® Listing ID 10400499
Year Built 1929
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Freehold
Property Description
AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:24570)
Location
Province BC
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters,
Flooring Mixed Flooring
Exterior
Parking Features No
Community Features Pets Allowed With Restrictions
View Y/N No
Roof Type Unknown
Attached Garage No
Garage No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Luxmore Realty
Nearby Locations
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