5 DEVINWOOD Avenue, Walkerton, Ontario, N0V2G0
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:2471)
Right At Home Realty Brokerage - Barrie
- Property Address: 5 DEVINWOOD Avenue, Walkerton, Ontario, N0V2G0
- Property Type: Multi-family
- Zoning Description: R3
- Title: Freehold
- Lot Size: 1.6
- Acreage: 1.6 ac|1/2 - 1.99 acres
- Sewage Type: Municipal sewage system
- Water Type: Municipal water
- Amenities Nearby: Golf Nearby, Hospital, Schools, Shopping
- Storeys: 4
- Floor Space: 12500
- Bedrooms: 31
- Bathrooms: 31-Total
- Basement Type: None
- Cooling: Central air conditioning
- Appliances Included: Water meter
- Golf course/parkland
- School Bus
Listing Office: Ed Lowe Limited Brokerage
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