33 FLINT AVENUE

Key facts

• Property type: Multi-family
• Transaction: For Sale
• Price: $899,900
• Bathrooms: 6
• Interior size: 1 sqft
• Lot size: 29665
• Listing key: 29699448

Listing overview

Fully Tenanted 5-Plex In The Core Of Bancroft Offering Stable, Income-Focused Value With Immediate Cash Flow And Built-In Upside. The Property Supports A Cap Rate In The 8% Range Based On Current In-Place Income. The Building Contains Five Self-Contained Residential Units With A Functional Unit Mix And Has Operated As A Rental Property For Many Years. Originally Constructed As An OPP Station And Later Converted To Residential Use, The Building Benefits From Solid, Institutional-Style Construction. Heating Is Provided By An Oil-Fired Hot Water Boiler With Baseboard Distribution, And A Shared Coin-Operated Laundry Area Provides Additional Income. All Units Are Currently Rented Inclusive Of Utilities, With Individual Hydro Meters Already In Place, Allowing A Future Owner To Transition Tenancies To Plus Hydro And Improve Net Income Over Time. A 2.5% Rent Increase Permitted Under Ontario Legi...