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182 12th Street Hanover, Ontario N4N 1T8

8 Bedroom 6 Bathroom 2500 - 3000 sqft
Window Air Conditioner Other

$1,300,000

Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:47237)

Property Details

MLS® Number X12436997
Property Type Multi-family
Community Name Hanover
EquipmentType None
Features Carpet Free
ParkingSpaceTotal 9
RentalEquipmentType None

Building

BathroomTotal 6
BedroomsAboveGround 6
BedroomsBelowGround 2
BedroomsTotal 8
Age 100+ Years
Amenities Separate Electricity Meters, Separate Heating Controls
Appliances Water Heater - Tankless, Water Heater, Water Meter, Water Treatment, Stove, Refrigerator
BasementDevelopment Finished
BasementType Full (finished)
CoolingType Window Air Conditioner
ExteriorFinish Brick
FoundationType Stone
HeatingFuel Natural Gas
HeatingType Other
StoriesTotal 3
SizeInterior 2500 - 3000 Sqft
Type Other
UtilityWater Municipal Water

Parking

No Garage

Land

Acreage No
Sewer Sanitary Sewer
SizeDepth 132 Ft
SizeFrontage 76 Ft ,6 In
SizeIrregular 76.5 X 132 Ft
SizeTotalText 76.5 X 132 Ft
ZoningDescription R5-31

https://www.realtor.ca/real-estate/28933906/182-12th-street-hanover-hanover

John Metcalfe
Salesperson


Royal LePage Rcr Realty
425 10th St,
Hanover, N4N 1P8

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