(519) 375 - 5120 shannon@shannondeckers.com


182 12th Street Hanover, Ontario N4N 1T8

8 Bedroom 6 Bathroom 2358


Rare Opportunity to pick most of your own tenants. This well kept legal 6 plex in Hanover, Ontario offers 4 - 1 bedroom apartments & 2 - 2 bedroom apartments. Currently there are 4 units that have just become vacant. Fill the vacant units yourself or the current seller can fill them for you. With the new anticipated rents, this place should net approximately $62,641 a year for a cap rate of 5.22%. Two apartment are currently being renovated with updates that include new flooring & kitchen. There are 5 hydro panels & a gas manifold that will accommodate up to 5 gas meters. The building passed fire code in 2020. The metal roof was done in 2018 and there is a large onsite parking lot. 4 of the units are setup that tenants could pay their own heat and hydro. Two basement units (currently empty) have the potential to have hydro separated and metered separately. Or keep the same and just have tenants pay a % of the hydro cost. Right now there is a huge demand in the area for rental units and not to many rental buildings in the area in this condition that offer a cap rate of over 5%. Dont miss out on this opportunity. (id:22681)

Property Details

MLS® Number 40090977
Property Type Multi-family
Amenities Near By Shopping
Features Crushed Stone Driveway, Country Residential, Laundry- Coin Operated


Bathroom Total 6
Bedrooms Total 8
Basement Development Finished
Basement Type Full (finished)
Cooling Type None
Exterior Finish Brick
Fire Protection None
Foundation Type Stone
Stories Total 3
Size Interior 2358
Utility Water Municipal Water


Acreage No
Land Amenities Shopping
Sewer Municipal Sewage System
Size Depth 132 Ft
Size Frontage 77 Ft
Size Total Text Under 1/2 Acre
Zoning Description R5