AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:13641)
| MLS® Number | 10400499 |
| Property Type | Multi-family |
| Neigbourhood | Princeton |
| Amenities Near By | Park, Shopping |
| Community Features | Pets Allowed With Restrictions |
| Features | Two Balconies |
| Appliances | Oven - Electric, Oven, Hood Fan, Washer & Dryer |
| Basement Type | Crawl Space |
| Constructed Date | 1929 |
| Exterior Finish | Other |
| Flooring Type | Mixed Flooring |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Roof Material | Other |
| Roof Style | Unknown |
| Stories Total | 2 |
| Size Interior | 8,000 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Street | |
| Rear |
| Access Type | Easy Access |
| Acreage | No |
| Land Amenities | Park, Shopping |
| Sewer | Municipal Sewage System |
| Size Irregular | 0.25 |
| Size Total | 0.25 Ac|under 1 Acre |
| Size Total Text | 0.25 Ac|under 1 Acre |
https://www.realtor.ca/real-estate/30262096/117-vermillion-avenue-princeton-princeton
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