24 Coldwater Rd W, Severn, L3V 3L1

Listing Overview

Description

Solid 7-unit mixed-use building in downtown Coldwater, consisting of 6 residential one-bedroom units and 1 long-standing commercial tenant. Current rents offer a compelling 45% upside to market, making this a strong long-term investment with immediate growth potential. Vendor may consider a first-position VTB offering a compelling opportunity to reduce capital outlay. All tenants pay their own hydro, and each residential unit is equipped with its own furnace, keeping operating costs low. The roof was replaced in 2023, and the property has been well-maintained throughout. Priced attractively at $103,000 per unit with a 6.5% cap rate in place. This building forms part of a broader portfolio featuring 29 residential and commercial units, all located on the same block ideal for buyers seeking scale and efficiency in an emerging rental market.

12 days

On Market

Investment

Property Type

$6,190 / Year

Est. Taxes

Apartment

Style

-

Business Type

-

Franchise