For Sale · Multifamily

617 FIRST STREET S, Kenora (Central)

617 FIRST STREET S, Kenora (Central), ON P9N1E1

$599,900 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

83%

About this property

Looking for a solid income-producing property? This well-maintained and upgraded fourplex offers an excellent opportunity to step into the rental market or add a strong performer to your existing investment portfolio. Offering good cash flow with minimal management, the property features three one-bedroom apartments and one two-bedroom apartment, with each unit enjoying the convenience of its own in-suite laundry. Location is another major advantage. Situated in Kenora's desirable Central neighbourhood, the property is near the newly redeveloped Central Community Club and just steps from downtown Kenora, Lake of the Woods, shopping, restaurants, services and amenities - an attractive and convenient location for tenants. Whether you're a first-time investor looking to build equity and generate passive income or an experienced landlord searching for your next rental property, this fourplex offers an appealing combination of income, location and ease of ownership. Put your money to work for you. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$600K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$24K

Annual cash flow

$-10K

Cash-on-cash

-5.37%

DSCR

0.71

Going-in cap

3.93%

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

87,458

Households

30,989

Median income

$84,000

Median age

44.7

Daytime population

74,396

5-yr growth

9.1%

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

Secure deal room

Confidential diligence documents for 617 FIRST STREET S, Kenora (Central).

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.