Property Description

INVESTMENT OPPORTUNITY with strong existing income and significant value-add potential! 105 Victoria Street is an income-producing triplex offering a return approaching a 10% cap rate based on current operating figures. All three units are occupied by long-term tenants on month-to-month rental agreements, providing established rental income from day one. Currently configured as two 2-bedroom units and one 1-bedroom unit, the property offers an exciting opportunity for investors to explore conversion to as many as 5 units through renovations and required municipal approvals. Unlock additional rental potential and further maximize the building's long-term performance. Operating costs have been well managed. Heating costs were less than approximately $5,000 last year, municipal water is metered, tenants pay their own electricity, and there is no rental equipment. Two units also have their own laundry. The building features a tar-and-gravel flat roof. Conveniently located on a bus route and close to an elementary school, Shamrock Park, grocery stores, restaurants and everyday amenities. Two off-street parking spaces are available, along with additional street parking nearby. Whether you're looking for established rental income today or a value-add opportunity for tomorrow, call your REALTOR® today to unlock the potential of this real estate investment! Please note: Showing requests require advance notice, as 2448 hours' notice must be provided to all tenants. (id:7434)