320 Lake St Street, Pembroke, Ontario

$4,500,000

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252.00

Acres

About 320 Lake St Street

Constructed in 2017/18, this 16-unit building just two blocks from Algonquin College in downtown Pembroke features 15 three-bedroom suites and 1 one-bedroom suite, all with appliances (fridge/stove/dishwasher) and furniture package. Projected gross income from rental and parking for 2023 projected at $410,310/annum. Seller's expenses in 2022 as follows: advertising and promotion: $307; insurance: $17,779; laundry (card/lease) and cleaning: $15,436; management fees: $20,340; property taxes: $28,961; grounds, maintenance & repairs: $28,961; utilities and security, Internet included: $49,182; professional fees: $3,497, office: $543. Total before debt service for 2022 is $162,499. Assuming a 2% increase in operating expenses and projected income for 2023 of $244,561 with projected cap rate asking at 5.4%. Parking is assigned with overflow available. The age of the property is technically 0-5 years (occupied September 2018). Laundry is coin (actually card) operated. (id:6289)

Features of 320 Lake St Street

Listing # 1347315
Price $4,500,000
Bathrooms 0.00
Acres 252.00
Year Built 2016
Type Multi-family
Sub-Type Freehold

Community Information

Address 320 Lake St Street
Subdivision Algonquin College Pembroke
City Pembroke
Province Ontario
Postal Code K8A5M2

Amenities

Parking Spaces 21
Is Waterfront No
Has Pool No

Interior

Fireplace No
# of Stories 4
Has Basement No

Listing Details

OfficeROYAL LEPAGE EDMONDS & ASSOCIATES

Listing Map

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