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 | Full (finished) |
| Cooling Type | Window Air Conditioner |
| Exterior Finish | Brick |
| Foundation Type | Stone |
| Heating Fuel | Natural Gas |
| 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 |
INQUIRE ABOUT
182 12th Street
This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
The Lakelands Association of REALTORS®
Royal LePage Rcr Realty
October 01 2025 03:52:20
