82 Sanford is a 5-plex, individually metered, townhouse rental complex located in Barrie. The location is within close proximity of major shopping centers and close to public transportation routes, making this a convenient place to live for a wide variety of residents. The property consists of 5 townhouses, under one deed/title, which is comprised of brick-like veneer exteriors with pitched composition roofs and wood frames, on concrete slab foundations. The rental units are very spacious, with finished basements and indoor laundry.
Additional Information:
Located in Barrie, one of the fastest-growing cities in Ontario.
Minutes away from major amenities, schools, and public transportation including Allendale Water Front Go Rail Station.
Pitched Roofs/Individual HVACs.
Individual Heat, Hydro, and Water meters lead to very low operating expenses.
Attractive suite mix, rarely vacant, and ample parking space.
Fantastic Cap Rate and mortgage spread offering stable cash flow stream to a new owner while capitalizing on tremendous equity upside.
Large townhouses finished basements with laundry facilities, patios, and many other amenities.
Offers tenants an opportunity to experience the pride of home ownership without the hassles of owning a home
Well maintained building, with NO MAJOR CAPITAL ITEMS.
The property consists of 5 townhouses, under one deed/title, which is comprised of brick-like veneer exteriors with pitched composition roofs and wood frames, on concrete slab foundations.
The rental units are very spacious, with finished basements and indoor laundry.
The new owner will benefit from stable cash flow and lucrative equity upside, due to the current and future fundamentals of the city of Barrie. The new owner will also be better positioned to create more profit and be competitive in the rental market space against other landlords that are buying new individual townhomes at a much higher entry price.
With Barrie’s rising average weekly wages and strong population growth, there is a tremendous upside opportunity should the new landlord decide to implement an upscaling suite renovation program to capture much higher rents to both increase operational cash flow, as well as significant value upside. For each additional dollar added to the Net Operation Income (NOI) from higher rents, the new landlord can expect a value return of 18 times (based on Cap rate of 5.3%, each dollar commands a value of approx. $18, $1/Cap rate of 5.3%)
