18-26 Campbell Avenue

BUNDLE: Multi-unit building + vacant building lot. This property package provides a multitude of opportunity for the astute investor with positive net operating income exactly as is. BUILDING: 3 residential units, studio/workshop with access to basement storage, and a parking pad. The vacant lot is ~55 x 110 feet, currently used for parking for the building. The building has 4-meters. All units (aside from the 'bachelor unit'), are freshly painted and vacant. Exterior painted 2023. All electric heat, breaker panels. Commercial torch-on roof ~15 years old. Effective age of the building is estimated around 30 years. OPTIONS TO CONSIDER: OPTION 1: Rent as-is, perform maintenance as needed. Estimated rental income: $6725/m POU. $80,700/y, Estimated operating expenses (mortgage cost not included): $37,484/y. Estimated net operating income $43,216/y. (Rental estimates per unit available). OPTION 2: Renovate the property to add residential units (to comply with zoning, the lot would likely be required to be used for parking). OPTION 3: Build multi-unit building on the lot. PROPERTY BREAKDOWN: (26) 2-Storey House w/3 beds + 1.5 baths + office + laundry. Est $2200 POU. (24) Loft w/2 beds + 1 bath + office + laundry. Est $1850 POU. (22a) Bachelor-unit w/1 bed, 1 bath. Current $675 POU. (22) Studio w/1 half bath with ~2,000sqft basement storage - all on one meter. Est $1,000 workshop, $1,000 basement. Perfectly located within walking distance to the downtown core and centre city, St. Clare's Hospital, many nearby amenities, and on bus routes. Vibrant area with lots of new commercial and residential development. Including development on the old Grace Hospital site! (Short term rental potential!) A perfect time to buy. Don't delay, this is one to hop on. Current zoning R2. Building registered 3 unit with the city (grandfathered). (id:54626)