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$ 2,100,000
Est. payment /mo
Active
3071 MOSLEY STREET Wasaga Beach, ON L9Z1W7
12 Beds
12 Baths
4,999 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,999 sqft
Price per Sqft $420
Subdivision Wasaga Beach
MLS® Listing ID S9392725
Bedrooms 12
Originating Board Toronto Regional Real Estate Board
Property Description
EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 6.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision. (id:24570)
Location
Province ON
Interior
Heating Baseboard heaters
Exterior
Parking Features No
Community Features School Bus
View Y/N No
Total Parking Spaces 12
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by RE/MAX HALLMARK PEGGY HILL GROUP REALTY