PROPERTY DETAILS
Lot Size: 33.99 ft x 100 ft
Unit Mix:
1 x 1 Bedroom
2 x 3 Bedroom
Total Parking: 3
Cap Rate: 4.55%
NOI: $40,992
Rental Income: $57,565
Expenses $
Insurance: $4,174
Maintenance & Repairs: $7,170
Realty Taxes: $7,170
Utilities: $2,448
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387 1/2 Chapel st
$900,000
Triplex in Sandy Hill
Strong investment opportunity in what is historically one of the greatest rental markets in the world. Do not be fooled by semantics and secure a lightly renovated triplex with 2 x 3 bedrooms and 1 x 1 bedroom.
Possibility to develop additional units by adding third floor (see 386 Chapel St) and/or extension in the rear yard (see 395 Chapel St) needs to be verified with city.
Property requires approximately $10,000 in exterior touch ups but is in otherwise excellent condition for its age.
Large units with bright windows. Lower unit is half above ground making it bright and desirable. Ideal 3 car parking at the rear.