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182 12th Street Hanover, Ontario N4N 1T8

182 12th Street, Hanover, Ontario  N4N 1T8 - Photo 1 - X12436997
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182 12th Street, Hanover, Ontario  N4N 1T8 - Photo 1 - X12436997
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182 12th Street, Hanover, Ontario  N4N 1T8 - Photo 25 - X12436997

$1,300,000

8 Bedroom 6 Bathroom 2,500 - 3,000 ft2
Window Air Conditioner Other

Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment. (id:36109)

Property Details

MLS® Number X12436997
Property Type Multi-family
Community Name Hanover
Equipment Type None
Features Carpet Free
Parking Space Total 9
Rental Equipment Type None

Building

Bathroom Total 6
Bedrooms Above Ground 6
Bedrooms Below Ground 2
Bedrooms Total 8
Age 100+ Years
Amenities Separate Electricity Meters, Separate Heating Controls
Appliances Water Heater - Tankless, Water Heater, Water Meter, Water Treatment, Stove, Refrigerator
Basement Development Finished
Basement Type N/a (finished), Full
Cooling Type Window Air Conditioner
Exterior Finish Brick
Foundation Type Stone
Heating Type Other
Stories Total 3
Size Interior 2,500 - 3,000 Ft2
Type Other
Utility Water Municipal Water

Parking

No Garage

Land

Acreage No
Sewer Sanitary Sewer
Size Depth 132 Ft
Size Frontage 76 Ft ,6 In
Size Irregular 76.5 X 132 Ft
Size Total Text 76.5 X 132 Ft
Zoning Description R5-31
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182 12th Street
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