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Business For Sale · Multifamily

266 ROMAINE STREET, Peterborough (Town Ward 3)

266 ROMAINE STREET, Peterborough (Town Ward 3), ON K9J2C5

$3.0M total

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Asset Class

Multifamily

Size

—

Building class

B

Zoning

RA9 — High Rise

$ / SF

—

Occupancy

93%

Lot Size

0.348 ac

About this property

Excellent opportunity to acquire a quality purpose built 15-plex with convenient central location. Close to downtown, Lansdowne St., Memorial Center, Farmers Market, YMCA, parks, transit and many other community amenities. Multi-unit building includes 12-2 bedroom apartments and 3-1 bedroom apartments, on site laundry and tenants personal storage lockers on each floor. Also included is on site parking for 1 vehicle per apartment, fridge and stove in each unit and 4 apartments have walkout to balconies. There is a significant upside to rental income upon leasing turnover as current rents would see a 50%+ increase to present market rents. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.99M
Down payment30% · $897K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$14K

Projected NOI

$113K

Annual cash flow

$-52K

Cash-on-cash

-5.83%

DSCR

0.68

Going-in cap

3.79%

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

115,643

Households

47,779

Median income

$116,500

Median age

33.3

Daytime population

127,965

5-yr growth

2.9%

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

Secure deal room

Confidential diligence documents for 266 ROMAINE STREET, Peterborough (Town Ward 3).

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.