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:4069)
Address
3071 MOSLEY Street
List Price
$2,100,000
Property Type
Multi-family
Area
Ontario
Sub-Area
Wasaga Beach
Bedrooms
15
Bathrooms
12
Floor Area
10,000 Sq. Ft.
Lot Size
0.437 Sq. Ft.
Year Built
1960
MLS® Number
40661857
Listing Brokerage
Re/Max Hallmark Peggy Hill Group Realty Brokerage
Basement Area
None
Postal Code
L9Z1W7
Zoning
R4
Site Influences
Public Transit
