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

PROPERTY HIGHLIGHTS

• 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.

THE NUMBERS

• Purchase Price: $720,000
• Down Payment(20%): $144,000
• Expenses:
• 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

COMPARABLES

PROCESS

• With the following information:
• 1) Offer price
• 2) Deposit amount
• 3) Name and Email