$1,049,000
117 Vermillion Avenue, Princeton V0X1W0
8,000 Sq Ft
Built 1929
Detached
Listed by: Luxmore Realty.
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Description
AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:66934)
Location
Approximate location supplied by the listing data provider.
Features
Parking: Rear, Street
Structure: Multi-Family
Lot Size: 0.25
Property Details
| Property Type | Detached |
|---|---|
| Sub Type | Multi-family |
| Living Area | 8,000 sq ft |
| Lot Size | 0 sq ft |
| Year Built | 1929 |
| Stories | 2.0 |
| Listing ID | 10400499 |
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