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31 unit, new concrete luxury, elevator equipped apartment building in the Bruce Power catchment area. A fast growing desirable area in southwest Ontario. All units are 2 bedroom, 2 bath with 5 appliances. Walkerton is a high demand area for upscale units for business relocation and retirement. The sale also includes approximately 1.6 acres of land. Site planned for an additional 31 unit building. The net income calculated for the single 31 unit building is returning a 5% cap rate. Constructing the second 31 unit building on the site, will increase cap rate to approximately 6%. Completion expected spring to summer of 2023. Being constructed by the developer. Proforma uses expected rents and expenses as recorded on new build comparable buildings in this area. Proforma net income $749,570.00. (id:44651)
| MLS® Number | 40326862 |
| Property Type | Multi-family |
| Amenities Near By | Golf Nearby, Hospital, Schools, Shopping |
| Community Features | School Bus |
| Features | Golf Course/parkland |
| Bathroom Total | 31 |
| Bedrooms Total | 31 |
| Appliances | Water Meter |
| Basement Type | None |
| Cooling Type | Central Air Conditioning |
| Fire Protection | Smoke Detectors |
| Heating Type | Heat Pump |
| Stories Total | 4 |
| Size Interior | 12500 |
| Utility Water | Municipal Water |
| Acreage | Yes |
| Land Amenities | Golf Nearby, Hospital, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Frontage | 297 Ft |
| Size Irregular | 1.6 |
| Size Total | 1.6 Ac|1/2 - 1.99 Acres |
| Size Total Text | 1.6 Ac|1/2 - 1.99 Acres |
| Zoning Description | R3 |
| Cable | Available |
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/24908974/5-devinwood-avenue-walkerton
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