MAKE IT HAPPEN! (tm) George Ulubabian
George Ulubabian's Site for HomeBuyers and Sellers 

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Downtown (St. Catharines, Ontario, CA - L2R 2Y8)
MLS® $159,900 Excellent Cap. Rate!
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"Residential or Commercial!"
 

Century 21 Today Realty Ltd


George Ulubabian
 
George Ulubabian
Email George
 
Phone: 905-646-2121
Cell: 905-321-6121
 
Details

Address: 21 Queenston St. Type: Multifamily Style: With a Storefront Bedrooms: 5 "3-bed.; 2-bed and bachel." Bathrooms: 4 Basement: Yes, Full Size: 2,140 sq. ft. Lot Type: Rectangular Lot Size: 42ft x 121.8ft Taxes: $1,319.77 (2010)
 
Description

Attention investors and business owners!
Here is a great opportunity in this triplex: excellent potential Capitalization Rate of 11.6 %!
You can return your investment in approximately nine years!*
Excellent potential cash flow allows even a two-bedroom unit's rent to cover mortgage payments!**
Financial analysis is available.
Run your small business from the bachelor's unit (formerly a storefront) and rent out the other two: zoning allows for residential and/or commercial use!
Tenants pay own hydro from two separate hydro-electricity meters.
The property consists of one three-bedroom unit (second floor), one two-bedroom unit, and one bachelor unit on the main floor.
Full unfinished basement contains boiler, hot water tank and laundry machines.
New laminated floors in some rooms and a front window in bachelor's unit.
A three-bedroom unit is repainted, new carpets will be laid in bedrooms. A vanity in a two-bedroom unit is replaced.
Some new plastic sewage pipes in the basement.
Siding was installed approximately five years ago.
Good-size backyard with a shed converted from a single-car garage.
Gross Income estimate is based on potential rents:
3-bed. unit: $950,
2-bed. unit: $750 and
Bachelor's: $550.
A three-bedroom unit is currently vacant.
Gross Potential Income: $27,000
Total Expenses: $ 7,056
Net Potenrial Income: $19,944
*Given that there is a "cash", no-mortgage transaction.
** Projected mortgage payments are based on the current 5-year term fixed 4.00% mortgage interest rate and a 25-year amortization period, as of August 27, 2010.
This statement is valid for the currency of the aforementioned mortgage interest rates only and a potential Net Operating Income of $18, 594.
 
Features
Interior Features
▪ Carpeted Floors
Heating
▪ Hot Water / Steam ▪ Natural Gas
Exterior Finish
▪ Siding ▪ Vinyl
Sewer/Water Systems
▪ Public
Roof
▪ Asphalt Shingles
Lot Features
▪ Fenced Yard ▪ Shed
Appliances
▪ Microwave ▪ Refrigerator ▪ Stove
Extra Features
▪ Cable Available ▪ Public Transportation
Cooling
▪ 2 Window / Wall Unit
P2#9356167

Information is deemed to be correct but not guaranteed.



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