182 12th Street Hanover, Ontario N4N 1T8

$1,300,000

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:42776)

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 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

https://www.realtor.ca/real-estate/28933906/182-12th-street-hanover-hanover