171 Nelson Street , Brantford

$799,900 / MLS® Listing #:30779322

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Attention Investors! A fully tenanted 4-plex sitting on a double lot with the potential to sever. This impressive 3,941 sq.ft. all-brick income property is a real money-maker with 4 spacious units that include a 2-bedroom unit, a 3-bedroom unit, a 4-bedroom unit, a 1-bedroom plus den/office unit, and a 44'6" x 28'6" detached garage/workshop. A great income-producing property! Apt #1: Rent $875.00/month + Hydro; Apt. #2: Rent $1,650/month All Inclusive; Apt. #3: Rent $2,350/month All Inclusive; Apt. #4: Rent $850.00/month + Hydro. All tenants are month-to-month and there are 4 hydro meters at the property. Total Gross Income: $73,500 year (including garage rental at $400/month). Expenses: Property Taxes $4,919.93/year; Insurance $2,157.48/year; Hydro $3,318.47/year; Water & Sewer $3,517.99/year; Gas $2,166.56/year; Water Heater Rental $627.85/year. Total Net Income: $56,791.72 year (A 7.10% Cap Rate!). Plus there is potential to sever the lot to create a building lot and the RC zoning allows for numerous building options. An excellent income property with a fantastic return! (id:10452)

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Property Details

Property Type Fourplex
Architectural Style Multi-Unit
Square Feet
Maintenance N/A
Days On Our Website 18
Basement Partially finished - Full (Partially finished)
Lot Dimensions under 1/2 acre
Pool N/A
Area Brantford
Air Conditioning None
Heating Natural gas - Forced air
Exterior Brick
Parking Spaces 13
Parking Type Detached garage,Gravel
Sewers Municipal sewage system
Water Municipal water

Listing Office: Re/Max Twin City Realty Inc.

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