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191 Castor Street Russell, Ontario K4R 1B8

Central Air Conditioning Heat Pump

$1,499,900

Discover an outstanding residential and commercial investment in Russell, boasting a spacious 4800 sqft all brick building with a basement area. Currently, the main floor hosts four leased commercial units, while upstairs features three apartments: two 2-bedroom and one 3-bedroom. The basement includes pay laundry facilities and individual storage lockers for each unit. With a large heat pump boiler system ensuring efficiency, this property offers 26 parking spots and a compelling 5.9% cap rate. Gross Operating Income stands at $122,118 (excluding Commercial HST), with Operating Expenses of $33,401.15, resulting in a Net Operating Income of $88,716.85 (excluding Commercial HST). Commercial AC Units x 4 replaced in 2022. With its prime location and high rental demand, this investment opportunity in Russell is not to be missed. Schedule a viewing today to secure your position in this flourishing market. (id:50982)

Property Details

MLS® Number X9515522
Property Type Multi-family
Neigbourhood Russell
Community Name 601 - Village of Russell
Parking Space Total 26

Building

Cooling Type Central Air Conditioning
Exterior Finish Brick
Fireplace Present No
Foundation Type Concrete
Heating Fuel Natural Gas
Heating Type Heat Pump
Type Multi-family
Utility Water Municipal Water

Land

Acreage No
Sewer Sanitary Sewer
Size Depth 100 Ft
Size Frontage 125 Ft
Size Irregular Unit=125 X 100 Ft ; 0
Size Total Text Unit=125 X 100 Ft ; 0
Zoning Description 471

https://www.realtor.ca/real-estate/26544885/191-castor-street-russell-601-village-of-russell

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