313 Midland Avenue Midland, Ontario L4R 3K5
$1,340,000
Steps from the shore of Georgian Bay in Midland's bustling downtown sits this 11 unit, fully tenanted multi-res building. This 3 storey structure features an assortment of layouts and updated spaces, with 4 units on each of the first two floors, and 3 units on the third floor. High historical demand for these dwellings suggests a prospective investor may expect stable income, at a cap rate of 6.5%. When properly configured, the parking area allows for a minimum of 8-10 vehicles. The basement contains multiple storage units, a laundry area, a modest office, utility rooms, and a workshop which could be converted for other applications (including residential). Most units enjoy forced air heat, except two which use electric baseboard. Tenants run their own air conditioning units in warmed months. Reach out today for more information on this excellent investment opportunity *Listing agent is related to the seller (id:49269)
Property Details
| MLS® Number | 40615623 |
| Property Type | Multi-family |
| Amenities Near By | Marina, Public Transit, Schools |
| Features | Laundry- Coin Operated |
| Parking Space Total | 8 |
Building
| Basement Development | Partially Finished |
| Basement Type | Full (partially Finished) |
| Construction Material | Concrete Block, Concrete Walls |
| Exterior Finish | Concrete, Metal, Vinyl Siding |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 3 |
| Size Interior | 6731.5 Sqft |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Marina, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 175 Ft |
| Size Frontage | 63 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Dc-f2 |
https://www.realtor.ca/real-estate/27130412/313-midland-avenue-midland
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July 08 2024 01:31:53
Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®
Sotheby's International Realty Canada, Brokerage (A), Sotheby's International Realty Canada, Brokerage (Collingwood)