Hanover N4N 1T8

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 8 BR
Bathrooms: 6
Pets: Pets No

Financials

Price:C1,300,000
($934,154)
(€795,885)
Annual Taxes:C5,947
505 Park Ave, New York, NY 10022

Description

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.

Amenities

  • Carpet Free
  • Floor Drain
  • On Demand Water Heater
  • Separate Heating Controls
  • Separate Hydro Meter
  • Water Heater Owned
  • Water Meter
  • Water Treatment

Maximize your portfolio's potential with this exceptional 6 plex, featuring a strong 6.


    All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

    All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.