4930 Road 38 Harrowsmith, Ontario K0H 1V0

7 Bedroom 5 Bathroom 5500
Central Air Conditioning Baseboard Heaters, Forced Air


Zoned UC-30 to allow 5 (five) residential units and commercial on main floor. Current layout: 2 x Third Floor Apartments, 2 x Second Floor Apartments, 2 x Main Floor Units (Res/Commercial). Projected Gross Income is a whopping approx. $139,560 with Operating Expenses being very low. Property Taxes only $2,883.53 (annual) in 2022. That's only $241/month. Utilities total approx. $6K/year, insurance approx. $4500/year. The math shows Net Income of approx. $129,000/year. That's approx. $10,750 per month over and above expenses (before mortgage costs or any improvement costs, of course). Cap Rate is approx. 20% with these projections. Property is vacant while improvements in progress. Detailed Property Information Package and Financial Illustration are provided in the document section. Estimates for remaining improvements available upon request. (id:28587)

Property Details

MLS® Number 40426605
Property Type Multi-family
Amenities Near By Beach, Golf Nearby, Park, Playground, Schools
Communication Type High Speed Internet
Community Features High Traffic Area, Community Centre, School Bus
Equipment Type Propane Tank
Features Corner Site, Park/reserve, Golf Course/parkland, Beach
Parking Space Total 16
Rental Equipment Type Propane Tank
Storage Type Holding Tank


Bathroom Total 5
Bedrooms Total 7
Appliances Microwave, Water Softener
Basement Development Unfinished
Basement Type Full (unfinished)
Constructed Date 1860
Construction Style Attachment Detached
Cooling Type Central Air Conditioning
Exterior Finish Brick
Fire Protection None
Foundation Type Stone
Heating Fuel Propane
Heating Type Baseboard Heaters, Forced Air
Stories Total 3
Size Interior 5500
Utility Water Drilled Well


Access Type Road Access, Highway Access
Acreage No
Fence Type Partially Fenced
Land Amenities Beach, Golf Nearby, Park, Playground, Schools
Sewer Holding Tank
Size Depth 180 Ft
Size Frontage 86 Ft
Size Total Text Under 1/2 Acre
Zoning Description Uc-30



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