ON
Severn (Coldwater)
L0K1E0
28 Coldwater W Road
28 Coldwater W Road, Severn (Coldwater), ON L0K1E0
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Listing Type
Multi Family
Listing Status
active
0
$1,265,000

Home Details for 28 Coldwater W Road

Price
$1,265,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
NaN
Parking
Days on site
7
Listing #
S12496654
Property Description

Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 6.5% cap rate and just $90,000 per unit. Take advantage of flexible financing with a potential first-position VTB available ideal for investors looking to maximize leverage. The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting. (id:31684)

Property Features
  • Heating Information
    • Baseboard
Listing Courtesy: EXP REALTY
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EXIT INTEGRITY REALTY, BROKERAGE
240 Holiday Inn Drive #F, Cambridge, ON N3C 3X4
Kate Hoekstra
License #: 5012081
Franchisee
Office
647 618 3158
Agent
647 618 3158
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