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About the Listing 571603 -
Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment.
Listing Highlights
Interior Details
- Bedrooms: 8
- Bathrooms: 6 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Full
- Other: Floor Drain,On Demand Water Heater,Carpet Free,Separate Hydro Meter,Separate Heating Controls,Water Heater Owned,Water Meter,Water Treatment
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Metal
- Others:
- Sewer: Sewer
Financial Details
- Tax Amount: $5,947
- Taxes w/Assessments: N/A
- Tax/Property ID: 372050053
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
182 12th St Hanover, ON N4N 1T8
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