4930 Road 38 Harrowsmith, Ontario K0H 1V0

Baseboard Heaters, Forced Air


Zoned UC-30 to allow 5 (five) residential units and commercial on main floor. Current layout: 2 x Third Floor Apartments, 2 x Second Floor Apartments, 2 x Main Floor Units (Res/Commercial). Projected Gross Income is a whopping approx. $139,560 with Operating Expenses being very low. Property Taxes only $2,883.53 (annual) in 2022. That's only $241/month. Utilities total approx. $6K/year, insurance approx. $4500/year. The math shows Net Income of approx. $129,000/year. That's approx. $10,750 per month over and above expenses (before mortgage costs or any improvement costs, of course). Cap Rate is approx. 20% with these projections. Property is vacant while improvements in progress. Detailed Property Information Package and Financial Illustration are provided in the document section. Estimates for remaining improvements available upon request. (id:37354)

Property Details

MLS® Number 40426608
Property Type Other
Amenities Near By Beach, Golf Nearby, Park, Playground, Shopping
Communication Type High Speed Internet
Community Features High Traffic Area, Community Centre, School Bus
Equipment Type Propane Tank
Features Corner Site, Visual Exposure, Park/reserve, Golf Course/parkland, Beach
Rental Equipment Type Propane Tank
Sign Type Unknown
Storage Type Holding Tank


Appliances Water Softener
Basement Development Unfinished
Basement Type Full (unfinished)
Constructed Date 1860
Exterior Finish Brick
Flooring Type Hardwood, Laminate, Linoleum
Foundation Type Stone
Heating Fuel Propane
Heating Type Baseboard Heaters, Forced Air
Stories Total 3
Size Exterior 5500.0000
Utility Water Drilled Well


Access Type Road Access, Highway Access
Acreage No
Land Amenities Beach, Golf Nearby, Park, Playground, Shopping
Sewer Holding Tank
Size Depth 180 Ft
Size Frontage 86 Ft
Zoning Description Uc-30



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