Jag Patel
Broker
$1,265,000
Available - For Sale
Listing ID: S12496654
28 Coldwater Road West , Severn, L0K 1E0, Simcoe
| Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 6.5% cap rate and just $90,000 per unit. Take advantage of flexible financing with a potential first-position VTB available ideal for investors looking to maximize leverage. The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting. |
| Price | $1,265,000 |
| Taxes: | $8440.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 28 Coldwater Road West , Severn, L0K 1E0, Simcoe |
| Postal Code: | L0K 1E0 |
| Province/State: | Simcoe |
| Legal Description: | LT 5 W/S COLDWATER RD PL 61 COLDWATER; P |
| Directions/Cross Streets: | Sturgeon Bay Rd / Coldwater Rd and Mill St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Building Percentage: | T |
| Total Area: | 6000.00 |
| Total Area Code: | Square Feet |
| Washrooms: | 0 |
| Heat Type: | Baseboard |
| Central Air Conditioning: | Partial |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Simcoe |
| Municipality: | Severn |
| Neighbourhood: | Coldwater |
| Tax: | $8,440 |
| Fireplace: | N |
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