Over 200K Undervalued 9 Unit Building in Kirkland Lake Assigned

  • $320,000
Assigned

This is an amazing opportunity to purchase an undervalued 9 unit mixed-use building in Kirkland Lake. This cash cow has significant upside potential with close to $43,000 in yearly cash flow after units are turned around. The property is located in the main downtown area of Kirkland Lake, beside a TD Bank and across a CIBC, and a walk to many amenities and restaurants. Cap rates in Kirkland Lake are selling at 7% and the vacancy rate is at an all time low (less than 1%). Don’t miss you opportunity to purchase this undervalued 9-plex!

This is a rare opportunity to purchase an extremely undervalued 9Plex in Kirkland Lake!

Take advantage of this amazing undervalued multi-family property with NO bidding wars in one of the strongest cash flowing real estate market in Canada. This is a great opportunity to pick up an undervalued multi-family property with over 6-figures in instant built in equity. The building is located in an extremely desirable area of Kirkland Lake, nearby many amenities and right beside a large TD Bank and across a CIBC.

Kirkland Lake has saw a rapid increase in appreciation, with multi-family properties selling at 7%-8% cap rates and vacancy rates at an all time low. This multi-unit property consists of 7 residential units, in which 3 of the units are vacant and ready to be renovated and rented, and 2 commercial units both fully tenanted with occupants wanting to continue to stay. More details on the property are available in the financials.

Due to the pandemic, the owner is not allowing for walkthroughs and thus sight-unseen offers are preferred. Photos and videos are available in the drive.

Kirkland Lake is one of the hottest and affordable real estate markets in Ontario right now. With significant price appreciation well over 15% Year-over-Year, constant bidding wars and most homes going over asking. This is your chance to break in the market with no bidding wars!

 

Price:
$320,000
Address:
Terms:
Assignment of Contract
Property Type:
Multi-family

Call 647-933-5598 for more details