320 LAKE ST STREET
Pembroke, Ontario K8A5M2

$4,500,000

ID# 1347315
Constructed in 2017/18, this 16-unit building just two blocks from Algonquin College in downtown Pembroke features 15 three-bedroom suites and 1 one-bedroom suite, all with appliances (fridge/stove/dishwasher) and furniture package. Projected gross income from rental and parking for 2023 projected at $410,310/annum. Seller's expenses in 2022 as follows: advertising and promotion: $307; insurance: $17,779; laundry (card/lease) and cleaning: $15,436; management fees: $20,340; property taxes: $28,961; grounds, maintenance & repairs: $28,961; utilities and security, Internet included: $49,182; professional fees: $3,497, office: $543. Total before debt service for 2022 is $162,499. Assuming a 2% increase in operating expenses and projected income for 2023 of $244,561 with projected cap rate asking at 5.4%. Parking is assigned with overflow available. The age of the property is technically 0-5 years (occupied September 2018). Laundry is coin (actually card) operated. (id:25961)

TO LEARN MORE ABOUT THIS PROPERTY CONTACT

JEFF GREENBERG

Sales Representative

Office: 613-725-1171

Toll Free: 1-800-307-1545 greenje@magma.ca


Courtesy of ROYAL LEPAGE EDMONDS & ASSOCIATES
Listed on: June 14, 2023

On market: 325 days
Year Built 2016
Stories Total 4
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744 BLACK CREEK ROAD Pembroke

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00 SUFIAN STREET
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Address Price Bed Bath SqFt Area Sub Area Brokerage
744 BLACK CREEK ROAD Pembroke
744 BLACK CREEK ROAD
 $349,900 - - 41.25 ac Pembroke Black Creek Road RE/MAX PEMBROKE REALTY LTD.
00 SUFIAN STREET Pembroke
00 SUFIAN STREET
 $156,000 - - 1.72 ac Pembroke Sufian Subdivision SIGNATURE TEAM REALTY LTD.
399 CHAMBERLAIN STREET Pembroke
399 CHAMBERLAIN STREET
 $519,900 4 3 80.58 ft X 126.92 ft Pembroke East End ROYAL LEPAGE EDMONDS & ASSOCIATES
779 LEAHEY STREET Pembroke
779 LEAHEY STREET
 $314,900 3 1 50 ft X 115.72 ft Pembroke Leahey RE/MAX PEMBROKE REALTY LTD.
464 PEMBROKE STREET W Pembroke
464 PEMBROKE STREET W
 $1,275,000 - - 131.79 ft X 157.85 ft Pembroke West End RE/MAX PEMBROKE REALTY LTD.
625 BOUCHER STREET Pembroke
625 BOUCHER STREET
 $489,900 3 2 60.03 ft X 120.14 ft Pembroke Fairview CENTURY 21 ASPIRE REALTY LTD.
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Experienced - Trusted - Recommended

JEFF GREENBERG, REALTOR® | Office: 613-725-1171 | Toll Free: 1-800-307-1545 | greenje@magma.ca

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