120-122 SYDNEY STREET

Key facts

• Property type: Multi-family
• Transaction: For Sale
• Price: class="container" id="details-container",175,000
• Interior size: 5,272 sqft
• Lot size: 0.017
• Parking: 6
• Listing key: 29403395

Listing overview

BEAUTIFULLY RENOVATED UNIQUE HISTORIC BRICK BUILDING IN DOWNTOWN LOCATION! Check out this very unique historic building which has been converted to an easy to maintain 5 Plex residential apartment building (5,272 sq.ft. as per MPAC). All renovations were completed with City of Cornwall building permits, inspections and finals approvals. This fully renovated/fully occupied property has an approximate /estimated annual net cash flow of $80,000 (before debt service, depreciation, vacancy & bad debt, management and maintenance). The capitalization rate for this investment property is calculated to be + 7% at the listing price, based on the income and expenses provided by the seller in the listing data. However if an investor builds in additional building expenses based on typical criteria for appraisal valuation or by mortgage lenders the Capitalization rate would be reduced to approximately...