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Business For Sale · Multifamily

24 NORTH STREET N, Barrie (Wellington)

24 NORTH STREET N, Barrie (Wellington), ON L4M2R9

$2.6M total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA9 — High Rise

$ / SF

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Occupancy

89%

About this property

This expansive 43-bedroom rooming house offers exceptional scale, versatility, and income potential. Featuring two oversized kitchens and a layout well-suited for high-capacity living, the property sits on a large lot with ample on-site parking, providing convenience for tenants and operational flexibility for the owner. Currently 75% occupied, the building offers immediate cash flow with significant upside-allowing you to select and place additional tenants of your choosing to optimize revenue. With its configuration and proximity to the local college, the property may also be an excellent candidate for student housing, offering strong demand and consistent rental performance. The main building is in good condition, supporting both turnkey operation and future value-add strategies. Please note that the 3-bedroom home at the front of the property is not included in this sale, as it is currently in the process of being severed. Lot dimensions shown are from GeoWarehouse and will be reduced upon completion of the severance. This is a rare opportunity to acquire a high-capacity residential investment with substantial growth potential in a desirable location. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.59M
Down payment30% · $777K
Interest rate6.25%
Amortization25 years
Occupancy89%
Expense growth2.5%

Monthly debt service

$12K

Projected NOI

$104K

Annual cash flow

$-39K

Cash-on-cash

-5.04%

DSCR

0.73

Going-in cap

4.03%

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

75,679

Households

30,988

Median income

$77,000

Median age

41.6

Daytime population

100,359

5-yr growth

6%

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

Secure deal room

Confidential diligence documents for 24 NORTH STREET N, Barrie (Wellington).

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.