March 25, 2024
- 10 min read
182 12th Street Hanover, Ontario N4N 1T8
$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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Royal LePage Rcr Realty
October 23 2025 12:53:00
