Turnkey legal 5-unit apartment building offering strong cash flow and extensive redevelopment in the heart of Prescott. Originally a duplex, this property has been comprehensively transformed into a modern income-producing asset while preserving its attractive brick exterior and character. Generating $93,300 in gross annual income with an approximate NOI of $78,820, the building offers an excellent unit mix of one 3-bedroom suite, two 2-bedroom suites (including an accessible unit), and two 1-bedroom suites, one of which is rented as an affordable unit. Extensive capital improvements include all new kitchens, bathrooms, flooring, lighting, interior doors, plumbing, electrical, nearly all new windows, repointed brick, new decks, upgraded insulation, modern mechanical systems, quality finishes throughout, and a durable standing seam metal roof. The building features an efficient utility structure with all tenants paying their own hydro and water. Two suites have their own dedicated heating systems and pay their own heat, while three suites are heated by an efficient central gas-fired hot water boiler. The accessible and affordable units may be of interest to purchasers exploring CMHC financing programs, subject to lender and CMHC eligibility requirements. Conveniently located within walking distance to downtown Prescott, the St. Lawrence River, shopping, restaurants, schools, and just minutes from Highway 401, this is an exceptional opportunity to acquire a true turnkey multi-family investment with significant capital improvements already completed. (id:63879)
| Business Type | Residential |
| Business Sub Type | Apartments |
| MLS® Number | X13639696 |
| Property Type | Multi-family |
| Community Name | 808 - Prescott |
| Parking Space Total | 5 |
| Appliances | Dishwasher, Dryer, Washer |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat, Forced Air |
| Size Exterior | 11220 Sqft |
| Size Interior | 11,220 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 136 Ft |
| Size Frontage | 82 Ft ,6 In |
| Size Irregular | Bldg=82.5 X 136 Ft |
| Size Total Text | Bldg=82.5 X 136 Ft |
| Zoning Description | R2 |
https://www.realtor.ca/real-estate/30116378/235-james-street-w-prescott-808-prescott
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