This deal is NO LONGER
AVAILABLE
Summary
-
13-unit mixed use commercial building in good
shape
-
Purchase price is $55,000 below list
-
Cash flow is $40,186 per year
-
9 residential and 4 commercial units have
existing long-term tenants, including government program
tenant
-
Potential for increasing income and property
value
-
Located in the greater Ottawa area
|
Assignment Fee: |
$8,000 |
|
Deadline: |
Oct. 19th, 2006 |
|
Closing Date: |
Dec. 4th, 2006 |
|
Funds
Required: |
$209,125 * |
|
Cash Flow
ROI: |
19.2% |
|
Total
ROI: |
57.3% |
|
Special Terms: |
$15,000 cash back at closing |
|
Proforma:
(Adobe PDF) |
Profit Analysis - 35% down payment |
* 'Funds Required' is based on
commercial financing, estimated
closing costs, 35% down payment, and cash back at closing. RRSP mortgages or other secondary
financing could be added to reduce down payment requirements. Note
that commercial rents do not include GST.
Potential for increasing profit
-
2nd floor area not yet rented - A large space above an
existing commercial tenant is not yet rented and tenant has
expressed an interest in renting it. Alternative could be to
build 2 separate residential apartments. Refer to the
potential proforma for a moderate increase in cash flow
(note: this does not include a market value increase due to the
cash flow increase)
-
Passing electricity costs to tenants - Electricity is individually metered for all
residential and commercial tenants, but rents currently include
electricity.
TAKE ACTION - Buy this deal NOW
Serious inquiries only please
