For Sale · Multifamily

19 ALFRED STREET, Barrie (Allandale)

19 ALFRED STREET, Barrie (Allandale), ON L4N3L9

$639,900 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

89%

About this property

ONE HOME, TWO SEPARATE LIVING SPACES & MORE WAYS TO MAKE HOMEOWNERSHIP WORK! Set in Historic Allandale on a large corner lot beneath towering pines, this vacant legal duplex offers investors, first-time buyers and multigenerational households two fully self-contained living spaces, whether the plan is to live in one and rent the other, lease both, or keep family close while maintaining separate households. The main-floor apartment features two bedrooms, a 4-piece bath and a spacious living room with large windows, pot lights and updated flooring. The kitchen pairs white cabinetry with stainless steel appliances, a breakfast peninsula and separate pantry, with a walkout to a 19 x 16 ft deck and backyard. This unit also has its own laundry, air conditioning and access to the partially finished basement, where large windows and a spacious recreation room offer potential to add another bedroom and bathroom. The completely separate second-floor apartment includes two bedrooms, a 3-piece bath, living room, kitchen with pantry and full-size appliances, two linen closets and its own laundry. Separate hydro meters make managing the two residences easier, while some updated windows, newer shingles and a newer furnace take several larger updates off the list. Outside, the driveway accommodates six vehicles with room for an RV, trailer or boat, and an 8 x 10 ft garden shed adds useful storage. Blair Park is just steps away, while Barrie's waterfront, Allandale Waterfront GO Station, Highway 400, shopping, schools, recreation and public transit are all nearby. (id:66811)

Financial sandbox

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Estimate
Purchase price$640K
Down payment30% · $192K
Interest rate6.25%
Amortization25 years
Occupancy89%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$22K

Annual cash flow

$-13K

Cash-on-cash

-6.98%

DSCR

0.62

Going-in cap

3.45%

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

135,931

Households

60,264

Median income

$65,000

Median age

40

Daytime population

145,522

5-yr growth

0.9%

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

Secure deal room

Confidential diligence documents for 19 ALFRED STREET, Barrie (Allandale).

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.