65 GLENELG STREET W

Lindsay Kawartha Lakes (Lindsay) K9V 2V5

Phenomenal 7% Cap Rate, Turnkey 10-unit apartment building presents a rare investment opportunity in a prime location, surrounded by ongoing development and poised for future growth. The property features a diverse unit mix, including 4 one-bedroom, 1 two-bedroom, 3 three-bedroom, and 2 four-bedroom units. Over $235,000 has been invested in extensive capital improvements, including a complete exterior waterproofing and caulking ($55,000), renovations to 4 units with new plumbing, kitchens, bathrooms, flooring, appliances, and finishes ($96,000), as well as upgrades to the common areas and outdoor stairwells ($15,000). Additional improvements include the installation of new high-efficiency laundry facilities ($15,000), a new roof and windows ($33,000), and stucco restoration and exterior refinishing ($21,000). Hydro is separately metered, with some tenants paying their own and others having it included in rent. Offering solid cash flow from day one with a strong rental upside, located in a rapidly developing area with excellent long-term growth potential. (id:2493)