Description

Seller states Cap Rate = 7.1%. All figures to be verified by the Buyer. The "Blue Jay" is a large, two building multi residential rental property with 10 units located across from Clear Lake, with the public boat launch and beach close by. A New well system was installed December 2024. Each building has it's own separate septic system. Evergreen Heights Public School and Highlands Child Care Centre is located 7 minutes away in Emsdale while the hustle and bustle of Huntsville is only 12 minutes away. A further income potential, the utility room has 3 hook up locations for laundry to add coin washers and dryers. Each unit has separate entrance. Parking accommodates 20+ vehicles. Building 1 has six large, 850+ Sq. Ft per unit, 2 bedroom units. Tenants pay their own hydro/heat. Every unit has had updates, 2 units renovated, 2021 & 2023. Building 2 is NOT subject to rent control, and was completed September 2019. 2 Units are 1 bedroom PLUS den, and 2 units are 1 bedroom, heat and hydro is included for these units. With a current gross annual rent of $158,256.12 and low operating costs of $17,030.36 - this multi residential property could be a great investment to expand your portfolio!

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