For Sale · Multifamily

402 E BROAD Street E, Dunnville

402 E BROAD Street E, Dunnville, ON N1A1G5

$495,000 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

84%

Year Built

1915

Lot Size

0.084 ac

About this property

Fantastic Investment Opportunity with Owner-Occupancy Potential! This spacious triplex offers an excellent opportunity for investors or buyers looking to enjoy the benefits of living in one unit while generating rental income from the others. Featuring three residential units, a detached garage, and off street parking, all in a desirable in-town location within easy walking distance to the market, riverfront park, shopping, restaurants, and everyday amenities. Unit 1 includes generous living space across two levels, making it an appealing option for potential owner-occupancy. The spacious main floor features a large kitchen, convenient 2-piece bath, separate dining room, and living room with French doors opening to the foyer and access to a large L-shaped heated sunroom. Upstairs, you'll find three bedrooms and a 4-piece bath. Additional highlights include private laundry facilities in the basement, forced-air natural gas heating, central air conditioning, and central vacuum. Unit 2 features a functional and spacious layout with a main-floor eat-in kitchen, separate dining area with natural gas radiant heater, and generous living room. The second floor has two bedrooms and a 4-piece bath. This unit also enjoys access to the basement, with a private laundry and separate workshop space. Unit 3, located on the third floor, provides a comfortable one-bedroom layout featuring an eat-in kitchen, living room (currently utilized as a bedroom), separate bedroom, natural gas radiant heat and 3-piece bath. An exceptional opportunity to expand your investment portfolio or enjoy the advantages of owner-occupied living with supplemental rental income. With its versatile layout, generous living spaces, and convenient location just a short stroll from downtown amenities and waterfront attractions, this property offers plenty of possibilities! (id:66811)

Financial sandbox

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Estimate
Purchase price$495K
Down payment30% · $149K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$13K

Annual cash flow

$-14K

Cash-on-cash

-9.60%

DSCR

0.48

Going-in cap

2.66%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

64,840

Households

22,826

Median income

$92,000

Median age

43.9

Daytime population

62,265

5-yr growth

8.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 402 E BROAD Street E, Dunnville.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.