Discover an outstanding residential and commercial investment in Russell, boasting a spacious 4800 sqft all brick building with a basement area. Currently, the main floor hosts four leased commercial units, while upstairs features three apartments: two 2-bedroom and one 3-bedroom. The basement includes pay laundry facilities and individual storage lockers for each unit. With a large heat pump boiler system ensuring efficiency, this property offers 26 parking spots and a compelling 5.9% cap rate. Gross Operating Income stands at $122,118 (excluding Commercial HST), with Operating Expenses of $33,401.15, resulting in a Net Operating Income of $88,716.85 (excluding Commercial HST). Commercial AC Units x 4 replaced in 2022. With its prime location and high rental demand, this investment opportunity in Russell is not to be missed. Schedule a viewing today to secure your position in this flourishing market. (36060407)
417 East to Boundary Rd Exit. Head South on Boundary Rd. Follow to Craig St/County Rd 3 and follow into town of Russell. Turn right onto Concession St. First Stop sign turn left. Subject building is on left.
Property Type
Multi-family
Building Type
Multi-Family
Land Size
Unit=125 x 100 FT ; 0
Annual Property Taxes
$11,314 (CAD)
Time on REALTOR.ca
299 days
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