120-122 SYDNEY Street

Original Remarks

BEAUTIFULLY RENOVATED UNIQUE HISTORIC BRICK BUILDING IN DOWNTOWN LOCATION! Check out this very unique historic building which has been converted to an easy to maintain 5 Plex residential apartment building (5,272 sq.ft. as per MPAC). All renovations were completed with City of Cornwall building permits, inspections and finals approvals. This fully renovated/fully occupied property has an approximate /estimated annual net cash flow of $80,000 (before debt service, depreciation, vacancy & bad debt, management and maintenance). The capitalization rate for this investment property is calculated to be 6.2% at the listing price, based on the income and expenses provided by the seller. Each apartment is finished with hardwood flooring & beautifully updated contemporary kitchens with granite counters & stainless steel dishwasher + bathrooms. The units are spacious, with 4 two-bedroom and 1 one-bedroom with den. All suites feature a 4-piece bath, in-suite laundry, and extras like central self-controlled AC, individual decks, private paved parking, and stainless steel appliances (included). Each unit has its own services with separate meters + the tenants pay their own utilities. Seller requires SPIS signed & submitted with all offer(s) and 2 full business days irrevocable to review any/all offer(s).