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Main Photo: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 1: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 2: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 3: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 4: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 5: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 6: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 7: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 8: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 9: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Photo 10: 5 Devinwood Avenue in Brockton: Property for sale : MLS®# X5775102
Status:
Active
Prop. Type:
Commercial
MLS® Num:
X5775102
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.
Property Type:
Commercial
Commercial Type:
Investment
Approx. Age:
New
Frontage:
296'10¾"
Total Area:
1.6 acre(s)
Office/Apt Area:
12,500 sq. ft.
Zoning:
R3
Heating type:
Gas Forced Air Closd
Garage:
Outside/Surface
Possession Details:
Tbd
Taxes:
$0 / 2022
Assessment:
$- / -
Greenbelt/Conservation
Public
Utilities:
Y
Water supply:
Municipal
Sewer:
Sanitary
Seller Property Info Statement:
No
Physically Handicapped-Equipped:
Yes
Air Conditioning:
Y
Log/Bldg/Unit Code:
Lot
Sprinkler system:
Yes
Type Taxes:
N/A
Category:
Apartment
Freestanding:
Yes
Date Listed:
Sep 26, 2022
Original Price:
$15,000,000
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Listed by ED LOWE LIMITED, BROKERAGE
Data was last updated December 6, 2022 at 05:55 AM (UTC)