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 the 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® #1347315. 320 Lake Street is a 16-unit building, a separate title. (id:49268)
Property Details
| MLS® Number | 1347121 |
| Property Type | Multi-family |
| Neigbourhood | Algonquin College Pembroke |
| Parking Space Total | 7 |
Building
| Constructed Date | 2019 |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 3 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 117 Ft |
| Size Frontage | 75 Ft |
| Size Irregular | 75 Ft X 117 Ft (irregular Lot) |
| Size Total Text | 75 Ft X 117 Ft (irregular Lot) |
| Zoning Description | R4-35 |
https://www.realtor.ca/real-estate/25716783/164-christie-street-pembroke-algonquin-college-pembroke
Interested?
Contact us for more information
Craig Edmonds
Salesperson
www.royallepage.ca/CraigEdmonds
270 Lake Street
Pembroke, Ontario K8A 7Y9
(613) 735-1062
(613) 735-2664
Patrick N. Hulley
Broker of Record
(613) 546-2793
642 Derbyshire Point Lane
Athens, Ontario K0E 1B0
(613) 546-4208
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
September 07 2023 08:34:45
Renfrew County Real Estate Board
Royal LePage Edmonds & Associates, RE/MAX Rise Executives