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$ 1,300,000
Est. payment /mo
Active
182 12th ST Hanover, ON N4N 1T8
8 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision Hanover
MLS Listing ID X12436997
Style 3-Storey
Bedrooms 8
Annual Tax Amount $5,947
Tax Year 2024
Property Sub-Type Multiplex
Property 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.
Location
Province ON
County Grey County
Community Hanover
Area Grey County
Rooms
Family Room No
Basement Finished, Full
Kitchen 6
Separate Den/Office 2
Interior
Interior Features Floor Drain, On Demand Water Heater, Carpet Free, Separate Hydro Meter, Separate Heating Controls, Water Heater Owned, Water Meter, Water Treatment
Cooling Window Unit(s)
Fireplace No
Heat Source Gas
Exterior
Pool None
Roof Type Metal
Lot Frontage 76.5
Lot Depth 132.0
Total Parking Spaces 9
Building
Building Age 100+
Foundation Stone
Others
ParcelsYN No
Listed by Royal LePage RCR Realty
