182 12TH STREET , Hanover Ontario N4N1T8

Sale $1,300,000 |

Listing # X12436997

Peter Ferragine

Sales Representative

Phone: 905.775.5557
Fax: 905.775.9075
Mobile: 905.716.3177

peter@theferragineteam.com

www.theferragineteam.com

Royal LePage RCR Realty, Brokerage (Independently owned and operated)

Brokerage

17360 YONGE STREET
NEWMARKET, ON L3Y7R6

Remarks:

Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:27)

Investment

Neighbourhood:	Hanover
Lot Frontage:	76.5 Feet
Lot Depth:	132.0 Feet
Lot Size:	76.5 x 132 FT
No. of Parking Spaces:	9
Floor Space (approx):	2500 - 3000 Square Feet
Bedrooms:	6+2
Bathrooms (Total):	6
Zoning:	R5-31

Property Features:

Equipment Type:	None
Features:	Carpet Free
Parking Type:	No Garage
Property Type:	Multi-family
Rental Equipment Type:	None
Sewer:	Sanitary sewer

Building Features:

Amenities:	Separate Hydro Meters , Separate Heating Controls
Appliances:	[] , [] , Water meter , Water Treatment , Stove , Refrigerator
Basement Development:	Finished
Basement Type:	Full
Building Type:	Other
Cooling Type:	Window air conditioner
Exterior Finish:	Brick
Foundation Type:	Stone
Heating Type:	Other

Peter Ferragine

Sales Representative

Phone: 905.775.5557
Fax: 905.775.9075
Mobile: 905.716.3177

peter@theferragineteam.com

www.theferragineteam.com

Royal LePage RCR Realty, Brokerage (Independently owned and operated)

Brokerage

17360 YONGE STREET
NEWMARKET, ON L3Y7R6

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