If you are looking for a multi-unit property to buy and hold for the long term, then look no further – This is your chance to acquire a legal triplex for the price of a single-family home!
This large, well-maintained triplex is centrally located near the downtown core in a nice tree-lined street, and is only minutes away from the city centre, hospitals, WLU & Conestoga Brantford. With $750+/month in positive cash flow, this property is a great addition for any investor looking to add a solid legal multiplex to their portfolio. There’s lots of potential to add value with a cosmetic update – all the mechanicals/roofs have already been taken care of in the last 6 years.
With one unit coming vacant, this is also a great opportunity for a First-time buyer/end-user to house hack – move into the vacant unit and have your tenants pay off your mortgage! This is also a perfect opportunity for an investor to refresh the unit and set market rents.
Closing is January 19th, 2022
- All brick Detached Legal Triplex
- Unit 1: 2 bedroom,1 bath, living room, kitchen -will come VACANT for the new owner
- Unit 2: 2 bedroom,1 bath,living room,kitchen + laundry+access to basement for storage
- Unit 3: Bachelor, 1 bath + Balcony
- Current rent: $3593/month in rent all inclusive($1500, $1300, $793) – ⅔ units under market value.
- All 3 units can eventually use a facelift after which rents will be over $4000. Not required right now as the property will cash flow $750+/month as is!!.
- Lot: 29.3ft x 73ft – irregular lot
- 3 parking spots
- New Roof in 2015
- New Windows in 2016
- Furnace less than 6 years old
- HWT rental($39/month)
- Property Tax: 3362/yr
- Buyer to assume tenants in 2 units – working professionals with demonstrated payment history.
- Solid location with all-inclusive rents making this property very rentable. The current owner has never faced vacancy issues.
- Purchase Price: $720,000
- Down Payment(20%): $144,000
- Mortgage @ 1.80% (30yr am): $2070
- Prop. taxes: $280/month
- Utilities: $347/month
- (Gas – $96.25 ,Hydro & Water- $212 HWT- $39 )
- Insurance: $120/month
- Total Rent: $3593/month
Cash Flow: $776/month
If you are interested and serious, please contact Paul firstname.lastname@example.org if you have any questions.
We will also consider offers sight unseen!
Please do not go directly to the address.
Realtors, add your commission amount and bring us a buyer!
- With the following information:
- 1) Offer price
- 2) Deposit amount
- 3) Name and Email