For Sale: 18 Unit Rental Building – Dean Gibbons

For Sale: 18 Unit Rental Building

Exclusive

Sell Your Home By Next Week Find Out How

May 09

Asking Price:  $799,000

Listing ID: Exclusive

Timeless post-and-beam warehouse being converted to rental/condo building in Waterford, ON.  

Drawings and applications have been submitted and approval is expected any day now.  Nothing will be left to do but build it out and start filling with tenants.  

Rental market in this community is thriving with the limited supply of rentals not lasting more than a couple of days on the market.  Requests to reserve a unit in this project are being received consistently before construction begins.  The appeal is the proximity to downtown Waterford and the Heritage Trail for some of the most scenic and tranquil biking and walking trails in the region.  

To be purchased "as is" with purchaser to complete construction once permits are approved.  Drawings and realistic income projections are available for review.  

  • 16 Residential Units
  • 2 Commercial Units
  • Units Ranging From 502-1200 Sq. Ft.
  • 3 Phase Hydro With Separate Meters
  • New Roof Summer 2018
  • Asking price $750,000 'as is'
  • $21,000/mo. income potential 


Second floor (pictured below) will need some re-configuring while the ground floor is an open space waiting to be converted to income producing rental apartments.  While much of the construction in the existing units is serviceable, it is recommended that a full renovation is completed to maximize income.

Location​

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