28 Coldwater RD W new Save Request In-Person Tour Request Virtual Tour
Severn,ON L0K 1E0
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision Coldwater
MLS Listing ID S12496654
Annual Tax Amount $8,440
Tax Year 2024
Property Sub-Type Investment
Property Description
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.
Location
Province ON
County Simcoe
Community Coldwater
Area Simcoe
Zoning C2+EP
Interior
Cooling Partial
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot