3071 Mosley Street Wasaga Beach, Ontario L9Z 1W7
$2,100,000
EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 6.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision. (id:52042)
Property Details
| MLS® Number | 40661857 |
| Property Type | Multi-family |
| Amenities Near By | Public Transit |
| Community Features | School Bus |
| Parking Space Total | 12 |
Building
| Bathroom Total | 12 |
| Bedrooms Total | 15 |
| Basement Type | None |
| Constructed Date | 1960 |
| Cooling Type | None |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Size Interior | 10000 Sqft |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access, Highway Access |
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Municipal Sewage System |
| Size Depth | 108 Ft |
| Size Frontage | 147 Ft |
| Size Irregular | 0.437 |
| Size Total | 0.437 Ac|under 1/2 Acre |
| Size Total Text | 0.437 Ac|under 1/2 Acre |
| Zoning Description | R4 |
https://www.realtor.ca/real-estate/27531644/3071-mosley-street-wasaga-beach
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October 28 2024 03:20:12
Barrie & District Association of REALTORS® Inc.
RE/MAX Hallmark Peggy Hill Group Realty Brokerage