4930 Road 38 Harrowsmith, Ontario K0H 1V0
$549,900
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 | 40426605 |
| Property Type | Multi-family |
| Amenities Near By | Beach, Golf Nearby, Park, Playground, Schools |
| Communication Type | High Speed Internet |
| Community Features | High Traffic Area, Community Centre, School Bus |
| Equipment Type | Propane Tank |
| Features | Corner Site, Park/reserve, Golf Course/parkland, Beach |
| Parking Space Total | 16 |
| Rental Equipment Type | Propane Tank |
| Storage Type | Holding Tank |
Building
| Bathroom Total | 5 |
| Bedrooms Total | 7 |
| Appliances | Microwave, Water Softener |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Constructed Date | 1860 |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick |
| Fire Protection | None |
| Foundation Type | Stone |
| Heating Fuel | Propane |
| Heating Type | Baseboard Heaters, Forced Air |
| Stories Total | 3 |
| Size Interior | 5500 |
| Utility Water | Drilled Well |
Land
| Access Type | Road Access, Highway Access |
| Acreage | No |
| Fence Type | Partially Fenced |
| Land Amenities | Beach, Golf Nearby, Park, Playground, Schools |
| Sewer | Holding Tank |
| Size Depth | 180 Ft |
| Size Frontage | 86 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Uc-30 |
https://www.realtor.ca/real-estate/25634124/4930-road-38-harrowsmith
Interested?
Contact us for more information
Sarah Macinnis
Broker of Record
https://macinnisrealty.ca
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221 Queen St
Kingston, Ontario K7K 1B4
(613) 484-4441
https://macinnisrealty.ca/
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May 26 2023 05:38:46
Kingston & Area Real Estate Association
Macinnis Realty Inc., Brokerage