120-122 Sydney Street Cornwall, Ontario K6H 3H2

$1,275,000

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 7.1% 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). (id:43934)

Business

Business Type	Residential
Business Sub Type	Apartments

Property Details

MLS® Number	X12823830
Property Type	Multi-family
Community Name	717 - Cornwall
Amenities Near By	Public Transit
Parking Space Total	6

Building

Age	100+ Years
Appliances	Dishwasher, Dryer, Washer
Cooling Type	Fully Air Conditioned
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Interior	5,272 Ft2
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Land Amenities	Public Transit
Size Depth	108 Ft ,11 In
Size Frontage	67 Ft ,10 In
Size Irregular	0.017
Size Total	0.017 Ac
Size Total Text	0.017 Ac
Zoning Description	Central Business District

https://www.realtor.ca/real-estate/29403395/120-122-sydney-street-cornwall-717-cornwall