About 13 Unit Apartment Building - Pembroke On - NOI 97K

Private Sale Investment Property - Flip Opportunity - Income Multi Family -------- 8 unit Multi Family For Sale (To be converted to 13 units) Net Operating income 59,500$ - Current Actual. Cap Rate 9.3% - Current Actual. ------------- We have building permits to build an additional 5 apartments in the rear of the building. Permits are ready, construction quote is $150K The build of the additional 5 units will convert the building to a 13 unit multi family building. Appraised at 850,000$, once complete. Appraisal Available. Net Operating Income is 97,500$ - Projected Once Build is Complete Cap Rate 12.7% I have financial Reports I can send you ------------------ ***Investment Break Down*** Asking Price 625,000$ Construction Cost + Asking Price = 775,000$ ( Total Investment) Project Appraisal Value - Total Investment 850,000$ - 775,000$ = 75,000$ (Equity Profit) + Annual Net Income of 97,500$ ------------------- Full Time Property Manager Handles total Operation Located Downtown Pembroke, Ontario. 1 Hour From Ottawa, 3 Hours From Toronto - 110 Pembroke St W, Pembroke With a population over 74,000 Pembroke is a huge military city, with major retailers in town (Canadian Tires, Home depot, Walmart) -------------------- DOCUMENTS AVAILABLE Detailed Financial Report, Current & After build Blue Prints Building Permit Appraisal Construction Quote Environmental Report - CLEAN ---------------- Asking Price: 625,000$ If you’d like to book a viewing or have any questions, feel free to contact me -------------------- Elie Nassif O: 613.800.9058 ext 3 C: 613.218.7734 E: info@wolfenburginc.com W: wolfenburginc.com
  • Property Type Multifamily
  • Status Existing
  • Total Available Space 12,000 SF
  • Direct Available Space 0 SF
  • Sublet Available Space 0 SF
  • Min Divisible 0 SF
  • Max Contiguous 0 SF
  • Building Size 12,000 SF
  • Managed By Wolfenburg Inc

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