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182 12TH STREET Hanover, Ontario
$1,300,000
Bathrooms
6+
Bedrooms
6+
Description
Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:24493)
MLS® #X12436997
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA
About Hanover
The character of Hanover is exemplified by its relaxed ambience. Most areas in Hanover are especially quiet, as the streets are very tranquil.
This information is provided by a third party data source. Kijiji is not responsible for the accuracy of this information.
Getting around
Walk score
3
Few day-to-day needs are within walking distance
Bike score
5
Somewhat suitable for bicycle commuting and/or recreational cycling
This information is provided by a third party data source. Kijiji is not responsible for the accuracy of this information.
$1,300,000
182 12TH STREET Hanover, Ontario
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