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For Sale · Multifamily

56-58 FRANK STREET, Tillsonburg

56-58 FRANK STREET, Tillsonburg, ON N4G3M1

$624,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

98%

About this property

Great opportunity for fiirst-time buyers or investors. Own a charming multi-family home on a corner lot in a desirable neighbourhood! Whether you're looking to live in one unit and rent out the other or add a solid property to your investment portfolio, this property offers plenty of possibilities. Two semi's under one ownership. Each unit features two levels with 3 bedrooms & 1 bathroom, along with plenty of original character throughout. Original hardwood floors add warmth and charm, while the front foyer entry and coat closet create a welcoming & functional entrance into each home.The kitchens offer practical space and character, including a built-in pantry in the hall for additional storage. Each unit also features its own private basement with laundry and development potential for a small rec room or office space, providing convenient storage and functionality. With classic details and the opportunity to make each unit your own, this property offers a wonderful combination of character, functionality and investment potential. Enjoy a fantastic location with close proximity to Lake Lisgar, Tillsonburg Town Centre, less than 350m to Kinsmen bridge which connects to walking paths and quick acess to the community centre, splash pad, water park, dog park, and schools, making everyday amenities and recreation easily accessible. A great opportunity to own a character-filled multi-family home in a convenient & established neighbourhood. Live in one side while generating rental income from the other! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$625K
Down payment30% · $187K
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$23K

Annual cash flow

$-11K

Cash-on-cash

-6.11%

DSCR

0.67

Going-in cap

3.71%

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

132,070

Households

54,413

Median income

$93,500

Median age

43.2

Daytime population

179,555

5-yr growth

3.3%

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

Secure deal room

Confidential diligence documents for 56-58 FRANK STREET, Tillsonburg.

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.