164 Christie Street Pembroke, Ontario K8A 4R1
$1,800,000
Constructed in 2020, this 6-unit building just two blocks from Algonquin College in downtown Pembroke features 6 three-bedroom suites, all with appliances (fridge/stove/dishwasher/stacked washer & dryer) and furniture package. Projected gross income from rental and parking for 2023 projected at $160,130/annum. Seller's expenses from 2022 as follows: advertising and promotion: $3,068; insurance: $7,478; management fees: $8,543; office: $27; professional fees: $3,283; property taxes: $10,869; grounds & maintenance & repairs: $9,843; utilities: $17,598. Total expenses in 2022 of $60,709. Assuming a 2% increase in operating expenses and projected income for 2023 of $160,130 yields a projected net of $98,207 with projected cap rate asking at 5.5%. This is a newer, well-located asset in the City of Pembroke. 164 Christie Street is being sold together with 320 Lake Street. See MLS®#: 40437934. 320 Lake Street is a 16-unit building, a separate title. (id:47868)
Property Details
| MLS® Number | 40437908 |
| Property Type | Multi-family |
| Amenities Near By | Marina, Ski Area |
| Features | Conservation/green Belt |
Building
| Bedrooms Total | 18 |
| Basement Type | None |
| Constructed Date | 2020 |
| Construction Material | Wood Frame |
| Construction Style Attachment | Detached |
| Cooling Type | Ductless |
| Exterior Finish | Brick Veneer, Wood |
| Fire Protection | None |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 3 |
| Size Interior | 7500 |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Marina, Ski Area |
| Sewer | Municipal Sewage System |
| Size Depth | 115 Ft |
| Size Frontage | 75 Ft |
| Size Irregular | 0.2 |
| Size Total | 0.2 Ac|under 1/2 Acre |
| Size Total Text | 0.2 Ac|under 1/2 Acre |
| Zoning Description | R4-35 |
Utilities
| Electricity | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/25714392/164-christie-street-pembroke
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September 28 2023 12:38:54
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