5 DEVINWOOD Avenue , Walkerton

31 Bed / 31 Bath / $15,000,000 / MLS® Listing #:40326862

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31 unit, new concrete luxury, elevator equipped apartment building in the Bruce Power catchment area. A fast growing desirable area in southwest Ontario. All units are 2 bedroom, 2 bath with 5 appliances. Walkerton is a high demand area for upscale units for business relocation and retirement. The sale also includes approximately 1.6 acres of land. Site planned for an additional 31 unit building. The net income calculated for the single 31 unit building is returning a 5% cap rate. Constructing the second 31 unit building on the site, will increase cap rate to approximately 6%. Completion expected spring to summer of 2023. Being constructed by the developer. Proforma uses expected rents and expenses as recorded on new build comparable buildings in this area. Proforma net income $749,570.00. (id:10452)

Property Details

Property Type Multi-family
Square Feet 12500.0000
Maintenance N/A
Days On Our Website 182
Basement - None
Lot Dimensions 1.6 ac|1/2 - 1.99 acres
Pool N/A
Area Walkerton
Air Conditioning Central air conditioning
Heating - Heat Pump
Sewers Municipal sewage system
Water Municipal water

Listing Office: Ed Lowe Limited Brokerage

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