$2,498,000 $13,410 est/mo Sourced by Back At You

3071 Mosley Street,Wasaga Beach, ON L9Z 1W7

Wasaga Beach ON, L9Z 1W7

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Description

EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 5.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision.

Details

MLS#40566270
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1960
Days On Site55
Listing Provided ByRe/Max Hallmark Peggy Hill Group Realty Brokerage | Peggy Hill

Features

Bed(s)15
SQ Feet10,000
Story(s)2
Units12
ZoningR4
Acreage0.44
Water FrontYes
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: 5 minutes ago
ProvinceON
CountySimcoe County
CityWasaga Beach
Postal CodeL9Z 1W7
AreaWasaga Beach
SubareaWB01 Wasaga Beach
Community NameWB01 Wasaga Beach
School DistrictSt Noel Chabanel / Jean Vanier
Elementary SchoolWorsley / Collingwood Ci
Listing VS Median (in WB01 Wasaga Beach)
Price:
$2,498,000
low | high
Med:
$737,400
100% of Average
SqFt:
10,000
low | high
Med:
1,322
100% of Average
$ / SqFt:
$250
low | high
Med:
$563
75.53749477631% of Average
On Site:
55
low | high
Med:
7.5
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 2:20:45 PM PDT