6501 Highway 93 N/A, Tay, ON L0L 1P0 - MLS#S9859924

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$980,000

Est. payment - /mo

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7 BD

6 BA

Active

6501 Highway 93 N/A Tay, ON L0L 1P0

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Chaudhry Nadeem

nadeem@gta.realestate +1(416) 907-4533

UPDATED:

10/31/2024 06:50 PM

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3500-5000

MLS Listing ID S9859924

Style 1 1/2 Storey

Bedrooms 7

Annual Tax Amount $3,666

Tax Year 2023

Property Description

Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.

Location

Province ON

County Simcoe

Community Waverley

Area Simcoe

Region Waverley

City Region Waverley

Rooms

Family Room No

Basement Unfinished

Kitchen 6

Interior

Interior Features Separate Heating Controls

Cooling Central Air

Fireplace Yes

Heat Source Gas

Exterior

Parking Features Front Yard Parking, Private Double

Garage Spaces 6.0

Pool None

Roof Type Flat

Total Parking Spaces 12

Building

Unit Features Wooded/Treed,Clear View,Level

Foundation Stone

Listed by IPRO REALTY LTD.

TEAM MEMBER

Chaudhry Nadeem +1(416) 907-4533 nadeem@gta.realestate