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Business For Sale · Multifamily

109 DIVISION STREET N, Kingsville

109 DIVISION STREET N, Kingsville, ON N9Y1E3

$5.8M total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

93%

Lot Size

1.343 ac

About this property

Introducing a solid, purpose-built 34-unit apartment building nestled in the heart of Kingsville, one of Southwestern Ontario's most sought-after lakeside rental markets. Featuring a strong mix of 22 one-bedroom and 12 two-bedroom suites, fully tenanted to reliable tenants. Separate hydro meters, with all tenants paying their own hydro. Many units currently rent well below market, offering significant upside as suites turn. A number of suites have been fully renovated to a modern standard, with a new on-site storage area recently added. Ideally situated just off Main Street, steps from downtown Kingsville's shops, restaurants, and grocery, minutes to the Kingsville Recreation Complex, Lakeside Park, and the Lake Erie waterfront, with a direct route to Windsor. This is a rock-solid building and is sure to offer investors both growth and stability for years to come! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$5.80M
Down payment30% · $1.74M
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$27K

Projected NOI

$187K

Annual cash flow

$-134K

Cash-on-cash

-7.70%

DSCR

0.58

Going-in cap

3.23%

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

107,614

Households

37,411

Median income

$99,000

Median age

34.2

Daytime population

182,683

5-yr growth

9.3%

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

Secure deal room

Confidential diligence documents for 109 DIVISION STREET N, Kingsville.

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.